Strs Ohio Has $72,000 Stock Position in KB Home $KBH

Strs Ohio cut its stake in KB Home (NYSE:KBH) by 96.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,400 shares of the construction company’s stock after selling 41,200 shares during the quarter. Strs Ohio’s holdings in KB Home were worth $72,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Corp boosted its stake in KB Home by 178.9% in the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after buying an additional 322 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in KB Home by 73.1% during the fourth 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. Fulcrum Asset Management LLP bought a new position in shares of KB Home during the third quarter valued at $36,000. Aventura Private Wealth LLC bought a new position in shares of KB Home during the fourth quarter valued at $46,000. Finally, Rothschild Investment LLC lifted its holdings in shares of KB Home by 391.0% during the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock valued at $46,000 after acquiring an additional 653 shares during the period. Institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. UBS Group boosted their price target on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Barclays upped their price objective on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Seaport Research Partners reiterated a “sell” rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.17.

KB Home Stock Down 2.7%

Shares of NYSE:KBH opened at $54.81 on Tuesday. The firm has a market cap of $3.36 billion, a P/E ratio of 19.10, a P/E/G ratio of 9.36 and a beta of 1.34. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The company’s 50-day moving average price is $52.84 and its two-hundred day moving average price is $55.77.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 3.29 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. KB Home’s dividend payout ratio is presently 34.84%.

About KB Home

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.