M&T Bank Corp Cuts Stock Holdings in KB Home (NYSE:KBH)

M&T Bank Corp reduced its holdings in KB Home (NYSE:KBH) by 17.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,102 shares of the construction company’s stock after selling 1,484 shares during the period. M&T Bank Corp’s holdings in KB Home were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KBH. Atria Investments Inc grew its stake in shares of KB Home by 19.9% in the 3rd quarter. Atria Investments Inc now owns 7,610 shares of the construction company’s stock worth $652,000 after buying an additional 1,262 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of KB Home by 12.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,583 shares of the construction company’s stock worth $649,000 after buying an additional 854 shares in the last quarter. Empowered Funds LLC grew its stake in shares of KB Home by 201.8% in the 3rd quarter. Empowered Funds LLC now owns 216,645 shares of the construction company’s stock worth $18,564,000 after buying an additional 144,854 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of KB Home by 11.0% in the 3rd quarter. Natixis Advisors LLC now owns 29,868 shares of the construction company’s stock worth $2,559,000 after buying an additional 2,960 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after buying an additional 1,016 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on KBH shares. Wells Fargo & Company dropped their price objective on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. The Goldman Sachs Group cut their price target on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. UBS Group cut their price target on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI upped their price target on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.21.

KB Home Price Performance

KB Home stock opened at $59.77 on Friday. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a 1 year low of $59.00 and a 1 year high of $89.70. The firm has a 50-day moving average of $64.71 and a two-hundred day moving average of $74.14.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. KB Home’s payout ratio is presently 11.81%.

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.