Corient Private Wealth LLC Cuts Stock Holdings in KB Home (NYSE:KBH)

Corient Private Wealth LLC cut its stake in KB Home (NYSE:KBH) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,691 shares of the construction company’s stock after selling 660 shares during the period. Corient Private Wealth LLC’s holdings in KB Home were worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KBH. FMR LLC raised its position in KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. Holocene Advisors LP acquired a new stake in KB Home in the third quarter valued at approximately $89,899,000. Hennessy Advisors Inc. purchased a new position in KB Home in the fourth quarter worth approximately $44,118,000. Raymond James Financial Inc. acquired a new position in KB Home during the 4th quarter worth approximately $12,288,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in KB Home by 22.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after buying an additional 164,010 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.89% of the company’s stock.

Analyst Upgrades and Downgrades

KBH has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $75.00 price target on shares of KB Home in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Bank of America reduced their price target on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays lowered their price objective on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, KB Home presently has an average rating of “Hold” and an average price target of $71.21.

KB Home Stock Performance

NYSE KBH opened at $59.14 on Thursday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.90 and a beta of 1.89. The business’s 50 day moving average is $63.81 and its two-hundred day moving average is $72.71. KB Home has a 12-month low of $56.41 and a 12-month high of $89.70. 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) last announced its quarterly earnings data 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company earned $1.76 EPS. The company’s revenue was down 5.2% on a year-over-year basis. 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 was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. KB Home’s dividend payout ratio is presently 11.81%.

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.