Voya Investment Management LLC Decreases Stake in KB Home $KBH

Voya Investment Management LLC cut its holdings in KB Home (NYSE:KBH - Free Report) by 64.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,782 shares of the construction company's stock after selling 30,776 shares during the quarter. Voya Investment Management LLC's holdings in KB Home were worth $975,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after buying an additional 258 shares in the last quarter. Sachetta LLC boosted its position in KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after purchasing an additional 660 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in KB Home during the first quarter worth $40,000. Byrne Asset Management LLC boosted its position in KB Home by 51.8% during the first 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. Finally, Manchester Capital Management LLC boosted its position in KB Home by 30.1% during the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after purchasing an additional 221 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KBH has been the topic of a number of research analyst reports. Bank of America boosted their target price on KB Home from $60.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Wall Street Zen upgraded KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Wells Fargo & Company upped their price objective on KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday, September 2nd. Barclays set a $49.00 price objective on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI reduced their price objective on KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, KB Home has a consensus rating of "Hold" and an average price target of $68.05.

KB Home Stock Performance

KB Home stock opened at $62.37 on Wednesday. The firm has a market capitalization of $4.24 billion, a P/E ratio of 8.26, a PEG ratio of 5.07 and a beta of 1.36. The stock has a fifty day moving average price of $61.41 and a 200 day moving average price of $56.92. KB Home has a 52 week low of $48.90 and a 52 week high of $88.86. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47.

KB Home (NYSE:KBH - Get Free Report) last announced 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 period in the prior year, the firm posted $2.15 earnings per share. Equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

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

Insider Buying and Selling

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 stock was sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.89% of the stock is owned by corporate insiders.

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.

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