Teacher Retirement System of Texas Has $5.82 Million Stock Holdings in KB Home (NYSE:KBH)

Teacher Retirement System of Texas lifted its stake in KB Home (NYSE:KBH - Free Report) by 148.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,068 shares of the construction company's stock after buying an additional 59,718 shares during the period. Teacher Retirement System of Texas owned approximately 0.14% of KB Home worth $5,816,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV grew its holdings in shares of KB Home by 12.1% during the first quarter. KBC Group NV now owns 3,372 shares of the construction company's stock worth $196,000 after purchasing an additional 365 shares during the last quarter. RBA Wealth Management LLC grew its position in shares of KB Home by 2.8% during the first quarter. RBA Wealth Management LLC now owns 64,440 shares of the construction company's stock worth $3,745,000 after acquiring an additional 1,757 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of KB Home by 52.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the construction company's stock worth $750,000 after acquiring an additional 4,405 shares during the last quarter. Signature Wealth Management Group grew its position in shares of KB Home by 10.7% during the first quarter. Signature Wealth Management Group now owns 32,574 shares of the construction company's stock worth $1,893,000 after acquiring an additional 3,154 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in KB Home by 4.4% during the 1st quarter. QRG Capital Management Inc. now owns 38,385 shares of the construction company's stock worth $2,231,000 after purchasing an additional 1,619 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Price Performance

Shares of KBH stock traded up $0.22 during midday trading on Thursday, reaching $56.19. 1,562,767 shares of the company were exchanged, compared to its average volume of 1,332,829. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company has a market cap of $4.03 billion, a P/E ratio of 7.44, a PEG ratio of 4.20 and a beta of 1.34. The company's 50 day moving average price is $53.11 and its two-hundred day moving average price is $58.51. 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 (NYSE:KBH - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.02% and a net margin of 8.47%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $2.15 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 annualized dividend and a yield of 1.78%. KB Home's payout ratio is presently 13.25%.

Insider Transactions at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director owned 10,262 shares in the company, valued at $558,047.56. The trade was a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their target price on KB Home from $67.00 to $63.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 25th. Evercore ISI lowered their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods lowered their price objective on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Thursday, June 26th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of KB Home in a report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $66.14.

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.