Nuveen Asset Management LLC Reduces Stock Position in KB Home (NYSE:KBH)

Nuveen Asset Management LLC reduced its position in shares of KB Home (NYSE:KBH - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,286 shares of the construction company's stock after selling 21,344 shares during the quarter. Nuveen Asset Management LLC owned about 0.28% of KB Home worth $13,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of KB Home by 2.4% in the fourth quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company's stock worth $157,529,000 after buying an additional 56,142 shares during the period. Fisher Asset Management LLC increased its stake in shares of KB Home by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock worth $149,928,000 after purchasing an additional 75,143 shares during the period. First Trust Advisors LP increased its stake in shares of KB Home by 61.2% in the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock worth $87,264,000 after purchasing an additional 503,895 shares during the period. LSV Asset Management increased its stake in shares of KB Home by 3.0% in the fourth quarter. LSV Asset Management now owns 1,137,900 shares of the construction company's stock worth $74,783,000 after purchasing an additional 33,500 shares during the period. Finally, Northern Trust Corp increased its stake in KB Home by 7.3% during the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company's stock valued at $72,377,000 after acquiring an additional 75,206 shares during the period. 96.09% of the stock is owned by institutional investors.

Insider Activity at KB Home

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the sale, the director now owns 10,262 shares in the company, valued at approximately $558,047.56. The trade was a 32.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.89% of the stock is currently owned by insiders.

KB Home Stock Performance

KB Home stock traded down $0.15 during trading hours on Friday, hitting $51.63. The company had a trading volume of 1,020,928 shares, compared to its average volume of 1,302,751. The firm has a market cap of $3.70 billion, a PE ratio of 6.10, a PEG ratio of 0.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a one year low of $48.90 and a one year high of $89.70. The firm has a 50-day moving average of $53.82 and a 200 day moving average of $63.10.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm's revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 earnings per share. On average, sell-side analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. KB Home's dividend payout ratio is presently 12.20%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group reduced their target price on KB Home from $97.00 to $86.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Barclays dropped their price objective on shares of KB Home from $60.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their target price on shares of KB Home from $76.00 to $65.00 and set a "market perform" rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group lowered their price objective on shares of KB Home from $81.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Royal Bank of Canada reduced their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, KB Home currently has an average rating of "Hold" and an average target price of $71.23.

KB Home 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.