Louisiana State Employees Retirement System Acquires New Position in KB Home $KBH

Louisiana State Employees Retirement System acquired a new position in shares of KB Home (NYSE:KBH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,300 shares of the construction company’s stock, valued at approximately $947,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vista Investment Management increased its holdings in KB Home by 3.5% in the fourth quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock valued at $289,000 after buying an additional 175 shares in the last quarter. GHE LLC boosted its stake in shares of KB Home by 0.7% during the 3rd quarter. GHE LLC now owns 30,983 shares of the construction company’s stock worth $1,972,000 after acquiring an additional 212 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of KB Home by 73.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after acquiring an additional 250 shares in the last quarter. Nebula Research & Development LLC grew its holdings in shares of KB Home by 6.3% in the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock worth $233,000 after acquiring an additional 262 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in KB Home by 5.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after purchasing an additional 274 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on KBH. The Goldman Sachs Group reduced their price objective on KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Wall Street Zen upgraded KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Bank of America cut their price objective on KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Wells Fargo & Company upped their target price on shares of KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Wednesday, June 24th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $77.00 price target on shares of KB Home in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.17.

KB Home Price Performance

KBH opened at $61.13 on Monday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The business has a 50-day moving average of $52.52 and a two-hundred day moving average of $55.89. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 10.29 and a beta of 1.34.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. Equities research analysts anticipate that KB Home will post 3.25 earnings per share for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 annualized dividend and a yield of 1.6%. KB Home’s dividend payout ratio is 34.84%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.