New York State Teachers Retirement System Sells 7,213 Shares of KB Home (NYSE:KBH)

New York State Teachers Retirement System cut its stake in shares of KB Home (NYSE:KBH - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,377 shares of the construction company's stock after selling 7,213 shares during the quarter. New York State Teachers Retirement System owned 0.15% of KB Home worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp raised its holdings in shares of KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock valued at $36,000 after buying an additional 214 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Byrne Asset Management LLC lifted its holdings in shares of KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after acquiring an additional 264 shares during the last quarter. Amundi lifted its holdings in shares of KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company's stock worth $58,000 after acquiring an additional 201 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of KB Home by 1,256.9% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock valued at $57,000 after purchasing an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Stock Down 2.5%

NYSE:KBH traded down $1.34 during mid-day trading on Monday, hitting $52.81. 1,054,946 shares of the company's stock were exchanged, compared to its average volume of 1,329,097. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The business has a fifty day moving average price of $53.09 and a 200 day moving average price of $58.66. KB Home has a one year low of $48.90 and a one year high of $89.70. The company has a market cap of $3.79 billion, a PE ratio of 6.99, a P/E/G ratio of 4.27 and a beta of 1.34.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the company earned $2.15 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, May 8th. KB Home's dividend payout ratio (DPR) is 13.25%.

Insider Transactions at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the transaction, the director owned 10,262 shares in the company, valued at approximately $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KBH. Royal Bank Of Canada lowered their price target on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 25th. Evercore ISI lowered their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Barclays set a $49.00 target price on KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $52.00 price target (down from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Finally, Keefe, Bruyette & Woods cut their target price on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.14.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.