Strs Ohio Has $2.40 Million Stock Position in KB Home $KBH

Key Points

• Strs Ohio cut its stake in KB Home by 46.3% in Q4, selling 36,700 shares and ending the period with 42,600 shares worth $2.40 million (about 0.07% of the company).
• Several brokerages lowered price targets and ratings (including a downgrade to "sell" by Wall Street Zen), leaving a MarketBeat consensus rating of Hold with an average target of $59.17.
• KB Home reported Q4 EPS of $0.52 (in line with estimates) while revenue fell 22.6% YoY to $1.08 billion, and the company declared a quarterly dividend of $0.25 (annualized $1.00, ~2.1% yield) with an ex-dividend date of May 7.

Strs Ohio lessened its holdings in KB Home (NYSE:KBH - Free Report) by 46.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,600 shares of the construction company's stock after selling 36,700 shares during the period. Strs Ohio owned about 0.07% of KB Home worth $2,403,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Horizon Corp increased its holdings in KB Home by 178.9% during the 4th quarter. First Horizon Corp now owns 502 shares of the construction company's stock worth $28,000 after purchasing an additional 322 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of KB Home during the third quarter valued at approximately $36,000. Aventura Private Wealth LLC purchased a new position in shares of KB Home during the fourth quarter valued at approximately $46,000. Jones Financial Companies Lllp grew its holdings in KB Home by 44.4% during the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company's stock worth $49,000 after buying an additional 240 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in KB Home by 2,848.4% during the third quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company's stock worth $58,000 after buying an additional 883 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on KBH. Wall Street Zen cut KB Home from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Wells Fargo & Company lowered their target price on shares of KB Home from $55.00 to $50.00 and set an "underweight" rating for the company in a report on Wednesday, March 25th. Royal Bank Of Canada dropped their price target on shares of KB Home from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 25th. Barclays cut their price target on shares of KB Home from $62.00 to $56.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of KB Home from $65.00 to $56.00 and set a "neutral" rating for the company in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, KB Home presently has an average rating of "Hold" and a consensus target price of $59.17.

KB Home Trading Up 0.8%

KB Home stock opened at $48.46 on Wednesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 8.49 and a beta of 1.42. KB Home has a 12 month low of $47.95 and a 12 month high of $68.71. The business's 50 day simple moving average is $54.63 and its 200 day simple moving average is $58.90.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.10 billion. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The firm's quarterly revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. As a group, equities research analysts forecast that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, May 7th. KB Home's dividend payout ratio is presently 25.38%.

KB Home Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

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