Pinebridge Investments L.P. Increases Stock Position in KB Home (NYSE:KBH)

Pinebridge Investments L.P. grew its stake in shares of KB Home (NYSE:KBH - Free Report) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,241 shares of the construction company's stock after buying an additional 7,551 shares during the quarter. Pinebridge Investments L.P.'s holdings in KB Home were worth $1,659,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KBH. Barclays PLC increased its stake in KB Home by 24.5% in the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company's stock worth $16,816,000 after purchasing an additional 38,638 shares during the period. Virtu Financial LLC raised its holdings in KB Home by 97.6% during the 3rd quarter. Virtu Financial LLC now owns 7,960 shares of the construction company's stock valued at $682,000 after buying an additional 3,931 shares during the last quarter. World Investment Advisors LLC purchased a new stake in KB Home during the 3rd quarter valued at $1,226,000. Wilmington Savings Fund Society FSB bought a new stake in KB Home in the 3rd quarter worth $59,000. Finally, Castellan Group increased its position in shares of KB Home by 0.8% in the third quarter. Castellan Group now owns 75,585 shares of the construction company's stock valued at $6,477,000 after acquiring an additional 570 shares during the period. Hedge funds and other institutional investors own 96.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KBH. Evercore ISI raised their target price on KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 14th. Barclays cut their price objective on KB Home from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 25th. Raymond James reissued an "outperform" rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a research note on Tuesday, January 21st. Wedbush reaffirmed a "neutral" rating and issued a $75.00 price target on shares of KB Home in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada reduced their price objective on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating on the stock in a research report on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $71.04.

KB Home Stock Up 2.3 %

KBH traded up $1.21 during midday trading on Friday, reaching $54.95. The company's stock had a trading volume of 828,696 shares, compared to its average volume of 1,327,624. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The stock's 50-day moving average is $57.05 and its 200-day moving average is $66.81. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.90 and a beta of 1.65. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

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

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, May 8th. KB Home's dividend payout ratio is presently 12.20%.

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.