Teacher Retirement System of Texas Increases Stake in KB Home (NYSE:KBH)

Teacher Retirement System of Texas grew its holdings in KB Home (NYSE:KBH - Free Report) by 148.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,068 shares of the construction company's stock after acquiring an additional 59,718 shares during the period. Teacher Retirement System of Texas owned about 0.14% of KB Home worth $5,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock worth $36,000 after acquiring an additional 214 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of KB Home by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after acquiring an additional 258 shares during the period. Byrne Asset Management LLC raised its holdings in shares of KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after purchasing an additional 264 shares in the last quarter. Amundi raised its holdings in shares of KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company's stock valued at $58,000 after acquiring an additional 201 shares during the period. Finally, UMB Bank n.a. increased its stake in KB Home by 1,256.9% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock valued at $57,000 after buying an additional 905 shares during the period. Hedge funds and other institutional investors own 96.09% of the company's stock.

Insider Buying and Selling

In other news, Director Arthur Reginald Collins sold 5,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the transaction, the director owned 10,262 shares in the company, valued at $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.89% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KBH. Wedbush reaffirmed a "neutral" rating and set a $75.00 price objective on shares of KB Home in a report on Tuesday, March 25th. Royal Bank Of Canada lowered their price objective on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 25th. Wall Street Zen lowered shares of KB Home from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Barclays set a $49.00 price objective on shares of KB Home and gave the stock an "equal weight" rating in a research note on Tuesday, June 24th. Finally, Bank of America cut their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KB Home currently has an average rating of "Hold" and an average price target of $66.14.

KB Home Trading Up 0.8%

NYSE:KBH traded up $0.44 during midday trading on Tuesday, reaching $53.22. 1,437,102 shares of the stock traded hands, compared to its average volume of 1,329,527. 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 12 month low of $48.90 and a 12 month high of $89.70. The stock has a market capitalization of $3.82 billion, a P/E ratio of 7.05, a PEG ratio of 4.27 and a beta of 1.34. The company has a fifty day moving average of $53.07 and a 200 day moving average of $58.57.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter last year, the business earned $2.15 EPS. The firm's revenue was down 10.5% compared to the same quarter last year. On average, research analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. KB Home's 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.