KB Home $KBH Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its position in KB Home (NYSE:KBH) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,718 shares of the construction company’s stock after acquiring an additional 341 shares during the period. New York State Teachers Retirement System’s holdings in KB Home were worth $5,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC boosted its stake in KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after buying an additional 660 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in KB Home during the first quarter worth $40,000. Manchester Capital Management LLC boosted its stake in KB Home by 30.1% during the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Reyes Financial Architecture Inc. boosted its stake in KB Home by 35.6% during the first quarter. Reyes Financial Architecture Inc. now owns 990 shares of the construction company’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in KB Home during the second quarter worth $59,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Up 0.0%

NYSE:KBH opened at $61.92 on Tuesday. KB Home has a 52 week low of $48.90 and a 52 week high of $85.67. The company has a market capitalization of $4.01 billion, a P/E ratio of 8.20, a P/E/G ratio of 5.10 and a beta of 1.40. The stock’s fifty day moving average is $63.29 and its two-hundred day moving average is $57.18.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.11. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. Sell-side analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, November 13th. KB Home’s payout ratio is currently 13.25%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KBH. Royal Bank Of Canada boosted their price objective on KB Home from $58.00 to $59.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Keefe, Bruyette & Woods lowered their price objective on KB Home from $65.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company lifted their target price on KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, September 2nd. Bank of America reduced their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, Oppenheimer started coverage on KB Home in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and an average target price of $64.36.

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.