KB Home $KBH Shares Sold by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in KB Home by 11.1%, now owning about 119,598 shares valued at $6.95 million after selling 14,897 shares in Q1.
• Institutional investors control 96.09% of KB Home's stock, showcasing strong institutional interest amid various adjustments in holdings.
• KB Home reported a 10.5% decline in quarterly revenue, posting $1.53 billion and a net margin of 8.47%, despite exceeding analysts' earnings expectations.

Swedbank AB lowered its stake in shares of KB Home (NYSE:KBH - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,598 shares of the construction company's stock after selling 14,897 shares during the quarter. Swedbank AB owned 0.17% of KB Home worth $6,951,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KBH. Two Sigma Advisers LP raised its position in KB Home by 4,408.6% in the 4th quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock worth $34,372,000 after purchasing an additional 511,400 shares during the period. AQR Capital Management LLC raised its position in KB Home by 116.1% in the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock worth $53,957,000 after purchasing an additional 506,415 shares during the period. Two Sigma Investments LP raised its position in KB Home by 1,136.2% in the 4th quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock worth $27,822,000 after purchasing an additional 389,097 shares during the period. Jacobs Levy Equity Management Inc. raised its position in KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock worth $26,514,000 after purchasing an additional 349,298 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in KB Home in the 4th quarter worth $19,526,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KBH shares. Evercore ISI decreased their target price on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Barclays set a $49.00 price objective on shares of KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Oppenheimer assumed coverage on shares of KB Home in a research report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Zacks Research upgraded shares of KB Home from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $68.05.

Insider Activity

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the transaction, the chief operating officer owned 78,345 shares of the company's stock, valued at $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.89% of the company's stock.

KB Home Stock Performance

KBH stock traded down $1.09 during trading on Friday, reaching $63.92. The company had a trading volume of 3,705,808 shares, compared to its average volume of 1,169,334. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. KB Home has a twelve month low of $48.90 and a twelve month high of $89.45. The firm has a 50-day simple moving average of $61.10 and a 200-day simple moving average of $56.98. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 5.28 and a beta of 1.36.

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

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued 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 dividend payout ratio is currently 13.25%.

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.