Northern Trust Corp Sells 39,292 Shares of KB Home $KBH

Key Points

• Northern Trust Corp reduced its holdings in KB Home by 3.6%, selling 39,292 shares and now owning approximately 1.48% of the company, valued at about $61.72 million.
• Multiple institutional investors increased their stakes in KB Home during the fourth quarter, with significant increases reported by Quarry LP, which lifted its holdings by 4,540.9%.
• KB Home recently announced a quarterly dividend of $0.25, equivalent to an annualized dividend of $1.00 and a yield of 1.6%, with a payout ratio of 13.25%.

Northern Trust Corp cut its holdings in shares of KB Home (NYSE:KBH - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,062,008 shares of the construction company's stock after selling 39,292 shares during the period. Northern Trust Corp owned approximately 1.48% of KB Home worth $61,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBH. Dark Forest Capital Management LP bought a new position in KB Home during the fourth quarter worth about $297,000. Price T Rowe Associates Inc. MD lifted its holdings in KB Home by 32.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,758 shares of the construction company's stock worth $4,454,000 after acquiring an additional 16,576 shares in the last quarter. Quarry LP lifted its holdings in KB Home by 4,540.9% during the fourth quarter. Quarry LP now owns 1,021 shares of the construction company's stock worth $67,000 after acquiring an additional 999 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in KB Home by 589.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 41,278 shares of the construction company's stock worth $2,713,000 after acquiring an additional 35,288 shares in the last quarter. Finally, Comerica Bank lifted its holdings in KB Home by 6.5% during the fourth quarter. Comerica Bank now owns 74,145 shares of the construction company's stock worth $4,873,000 after acquiring an additional 4,513 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the transaction, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.89% of the company's stock.

KB Home Price Performance

NYSE:KBH opened at $63.21 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The stock's 50-day simple moving average is $56.92 and its 200 day simple moving average is $56.63. The company has a market cap of $4.30 billion, a P/E ratio of 8.37, a P/E/G ratio of 5.12 and a beta of 1.34. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.KB Home's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 earnings per share. As a group, sell-side analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home's payout ratio is currently 13.25%.

Analyst Ratings Changes

KBH has been the topic of several recent research reports. Bank of America dropped their price target on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. UBS Group dropped their price target on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods dropped their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, June 26th. Evercore ISI dropped their price target on KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Finally, Barclays set a $49.00 price target on KB Home and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.14.

About KB Home

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.

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