KB Home (NYSE:KBH) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in KB Home (NYSE:KBH - Free Report) by 25.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215,633 shares of the construction company's stock after selling 74,871 shares during the period. Wells Fargo & Company MN owned approximately 0.30% of KB Home worth $14,171,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KBH. Jones Financial Companies Lllp raised its stake in shares of KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Principal Securities Inc. increased its holdings in KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company's stock worth $39,000 after purchasing an additional 179 shares during the period. Versant Capital Management Inc raised its position in KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company's stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. Amundi boosted its stake in shares of KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company's stock valued at $58,000 after buying an additional 201 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of KB Home during the third quarter worth about $59,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of NYSE:KBH traded up $1.44 during midday trading on Friday, hitting $51.59. The stock had a trading volume of 1,795,630 shares, compared to its average volume of 1,317,721. The company has a market capitalization of $3.70 billion, a PE ratio of 6.09, a P/E/G ratio of 0.90 and a beta of 1.65. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The stock has a 50 day moving average price of $58.97 and a two-hundred day moving average price of $68.74. 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 analysts' consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $1.76 earnings per share. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. KB Home's payout ratio is 12.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KBH. Seaport Res Ptn upgraded shares of KB Home from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Bank of America reduced their price objective on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group dropped their target price on KB Home from $81.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Barclays cut their price target on KB Home from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $76.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, March 26th. Three 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.04.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company's stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.89% of the company's stock.

About KB Home

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.