Strs Ohio Has $72,000 Stake in KB Home $KBH

Key Points

• Strs Ohio sharply reduced its KB Home position in the first quarter, cutting its stake by 96.7% and ending with 1,400 shares valued at about $72,000.
• Analysts remain cautious overall on KB Home, with the stock carrying an average “Hold” rating and a consensus price target of $60.17 after several recent rating changes.
• KB Home’s latest results were mixed: quarterly EPS of $0.43 slightly missed expectations, while revenue of $1.11 billion topped estimates but fell 27.3% year over year.

Strs Ohio trimmed its position in shares of KB Home (NYSE:KBH - Free Report) by 96.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,400 shares of the construction company's stock after selling 41,200 shares during the period. Strs Ohio's holdings in KB Home were worth $72,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Corp lifted its position in shares of 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 during the last quarter. Parkside Financial Bank & Trust grew its holdings in KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company's stock valued at $33,000 after buying an additional 250 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in KB Home in the 3rd quarter valued at approximately $36,000. Aventura Private Wealth LLC bought a new position in KB Home in the 4th quarter worth approximately $46,000. Finally, Rothschild Investment LLC increased its position in KB Home by 391.0% in the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company's stock worth $46,000 after buying an additional 653 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KBH shares. Zacks Research raised KB Home from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Bank of America cut their target price on shares of KB Home from $63.00 to $56.00 and set a "neutral" rating for the company in a research note on Wednesday, March 25th. Barclays increased their price target on shares of KB Home from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Wells Fargo & Company raised their price target on shares of KB Home from $50.00 to $52.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Four research 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. According to data from MarketBeat, KB Home has an average rating of "Hold" and an average price target of $60.17.

KB Home Trading Down 2.7%

Shares of NYSE:KBH opened at $54.81 on Tuesday. KB Home has a 1-year low of $44.03 and a 1-year high of $68.71. The firm has a market capitalization of $3.36 billion, a PE ratio of 19.10, a PEG ratio of 9.36 and a beta of 1.34. The business's 50 day moving average is $52.84 and its 200-day moving average is $55.77.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business's revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, sell-side analysts predict that KB Home will post 3.29 EPS for the current year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. KB Home's dividend payout ratio is currently 34.84%.

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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