Wedge Capital Management L L P NC Sells 657,383 Shares of KB Home (NYSE:KBH)

Wedge Capital Management L L P NC trimmed its stake in KB Home (NYSE:KBH - Free Report) by 94.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,285 shares of the construction company's stock after selling 657,383 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of KB Home worth $2,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New Hampshire increased its holdings in KB Home by 1.0% in the first quarter. Bank of New Hampshire now owns 33,692 shares of the construction company's stock valued at $1,958,000 after purchasing an additional 349 shares during the period. UMB Bank n.a. boosted its position in KB Home by 1,256.9% during the first quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock valued at $57,000 after acquiring an additional 905 shares during the last quarter. NBC Securities Inc. boosted its position in KB Home by 126,150.0% during the first quarter. NBC Securities Inc. now owns 5,050 shares of the construction company's stock valued at $293,000 after acquiring an additional 5,046 shares during the last quarter. Rhumbline Advisers boosted its position in 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 acquiring an additional 56,994 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in KB Home by 9,450.3% during the first quarter. GAMMA Investing LLC now owns 96,363 shares of the construction company's stock valued at $5,601,000 after acquiring an additional 95,354 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KBH has been the topic of a number of research analyst reports. Wall Street Zen cut shares of KB Home from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of KB Home from $55.00 to $53.00 and set an "underweight" rating on the stock in a research report on Tuesday, June 3rd. UBS Group cut their price target on shares of KB Home from $97.00 to $86.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Bank of America cut their price target on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods cut their price target on shares of KB Home from $76.00 to $65.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 26th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat.com, KB Home presently has an average rating of "Hold" and a consensus price target of $71.05.

KB Home Stock Down 2.6%

Shares of KBH traded down $1.41 during trading hours on Friday, hitting $52.36. The stock had a trading volume of 1,055,419 shares, compared to its average volume of 1,305,763. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $52.93 and a 200-day simple moving average of $61.57. The firm has a market capitalization of $3.76 billion, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. KB Home has a 1-year low of $48.90 and a 1-year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.07). The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business's quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Sell-side analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. KB Home's dividend payout ratio (DPR) is currently 12.20%.

Insider Buying and Selling at KB Home

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of KB Home stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the transaction, the director now owns 10,262 shares in the company, valued at approximately $558,047.56. The trade was a 32.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.89% of the company's stock.

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.