California State Teachers Retirement System Sells 14,198 Shares of KB Home (KBH)

California State Teachers Retirement System lessened its stake in shares of KB Home (NYSE:KBH) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,477 shares of the construction company’s stock after selling 14,198 shares during the quarter. California State Teachers Retirement System owned 0.16% of KB Home worth $3,244,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. AllSquare Wealth Management LLC purchased a new position in shares of KB Home in the third quarter valued at approximately $113,000. Victory Capital Management Inc. boosted its stake in shares of KB Home by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock valued at $199,000 after purchasing an additional 1,241 shares during the period. Yorktown Management & Research Co Inc purchased a new position in shares of KB Home in the second quarter valued at approximately $201,000. Greenwood Capital Associates LLC purchased a new position in shares of KB Home in the third quarter valued at approximately $207,000. Finally, Zacks Investment Management purchased a new position in shares of KB Home in the second quarter valued at approximately $209,000. 96.73% of the stock is owned by institutional investors.

Shares of KB Home (NYSE:KBH) opened at $35.35 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. KB Home has a 1-year low of $15.88 and a 1-year high of $38.80. The firm has a market cap of $3,198.78, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.01 and a beta of 1.70.

KB Home (NYSE:KBH) last released its quarterly earnings data on Wednesday, January 10th. The construction company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. KB Home had a net margin of 4.13% and a return on equity of 9.93%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. sell-side analysts expect that KB Home will post 2.42 EPS for the current year.

Several research firms have recently commented on KBH. Royal Bank of Canada raised their price objective on shares of KB Home to $40.00 and gave the company a “sector perform” rating in a research note on Monday. Buckingham Research lowered shares of KB Home from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Friday, January 12th. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and issued a $31.00 price objective (up previously from $25.00) on shares of KB Home in a research note on Thursday, January 11th. Zacks Investment Research raised shares of KB Home from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, January 9th. Finally, Citigroup cut shares of KB Home from a “neutral” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Tuesday, January 2nd. Seven investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. KB Home presently has an average rating of “Hold” and an average price target of $27.27.

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About KB Home

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.

Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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