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

Teacher Retirement System of Texas lifted its position 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 (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

KB Home Trading Up 5.4%

KBH traded up $2.87 on Wednesday, hitting $56.11. The company had a trading volume of 1,837,251 shares, compared to its average volume of 1,331,910. The company has a market cap of $4.02 billion, a PE ratio of 7.43, a PEG ratio of 4.20 and a beta of 1.34. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $53.07 and its 200 day simple moving average is $58.53.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%. The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. Equities research analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

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

Insider Buying and Selling at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of KB Home 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 completion of the sale, the director owned 10,262 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this link. Corporate insiders own 3.89% of the company's stock.

Analyst Ratings Changes

KBH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their target price on KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Thursday, June 26th. Wall Street Zen cut KB Home from a "hold" rating to a "sell" rating in a report on Saturday, June 28th. Bank of America decreased their price target on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. UBS Group decreased their price target on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Finally, Barclays set a $49.00 price target on KB Home and gave the company an "equal weight" rating in a report 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 company. According to data from MarketBeat.com, the stock has an average 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.