Swedbank AB Sells 23,931 Shares of KB Home $KBH

Key Points

• Swedbank AB has reduced its position in KB Home by 20% in the second quarter, owning 95,667 shares valued at approximately $5.07 million as of the latest SEC filing.
• KB Home reported a quarterly earnings per share (EPS) of $1.50, exceeding estimates by $0.05, but experienced a 10.5% decline in revenue compared to the same period last year.
• The company recently announced a quarterly dividend of $0.25, equating to an annual yield of 1.6%, with a low dividend payout ratio of 13.25%.

Swedbank AB decreased its position in KB Home (NYSE:KBH - Free Report) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,667 shares of the construction company's stock after selling 23,931 shares during the quarter. Swedbank AB owned about 0.13% of KB Home worth $5,067,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of KB Home by 116.1% in the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock valued at $53,957,000 after buying an additional 506,415 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of KB Home by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock valued at $44,384,000 after buying an additional 6,856 shares during the period. Systematic Financial Management LP lifted its holdings in shares of KB Home by 0.4% during the first quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company's stock valued at $28,621,000 after purchasing an additional 2,137 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of KB Home by 326.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock valued at $26,514,000 after purchasing an additional 349,298 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of KB Home by 24.9% during the first quarter. Rhumbline Advisers now owns 286,278 shares of the construction company's stock valued at $16,638,000 after purchasing an additional 56,994 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America upped their target price on KB Home from $60.00 to $67.00 and gave the company a "neutral" rating in a report on Thursday. Oppenheimer assumed coverage on KB Home in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Evercore ISI reduced their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Wells Fargo & Company upped their target price on KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, September 2nd. Finally, Barclays set a $49.00 price objective on KB Home and gave the stock 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, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $68.05.

Insider Transactions at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value 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. The trade was a 15.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.89% of the company's stock.

KB Home Stock Performance

Shares of NYSE:KBH traded down $1.54 during trading on Monday, hitting $62.40. 1,594,307 shares of the stock were exchanged, compared to its average volume of 1,250,420. 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 company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 5.20 and a beta of 1.36. KB Home has a 1-year low of $48.90 and a 1-year high of $89.45. The company's fifty day simple moving average is $61.24 and its 200-day simple moving average is $56.88.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.45 by $0.05. The business had revenue of $1.53 billion during 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 revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.15 EPS. Sell-side analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.25 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.00 annualized dividend and a yield of 1.6%. KB Home's payout ratio is presently 13.25%.

KB Home Company 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.