Legal & General Group Plc Trims Stock Position in KB Home $KBH

Legal & General Group Plc lowered its holdings in shares of KB Home (NYSE:KBH) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,391 shares of the construction company’s stock after selling 9,729 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of KB Home worth $5,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KBH. Freestone Grove Partners LP purchased a new stake in shares of KB Home during the 3rd quarter valued at about $111,050,000. Bank of America Corp DE increased its position in shares of KB Home by 36.4% during the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after purchasing an additional 275,965 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in KB Home by 48,100.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 158,097 shares of the construction company’s stock worth $8,918,000 after acquiring an additional 157,769 shares in the last quarter. UBS Group AG increased its holdings in KB Home by 22.8% in the 3rd quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock worth $51,875,000 after acquiring an additional 151,202 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in KB Home by 13.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock worth $59,472,000 after acquiring an additional 122,457 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.2%

Shares of KBH opened at $52.13 on Monday. The company has a market cap of $3.27 billion, a PE ratio of 13.23, a P/E/G ratio of 9.19 and a beta of 1.37. The business has a fifty day moving average of $50.72 and a 200 day moving average of $56.81. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $1.49 earnings per share. KB Home’s revenue was down 22.6% on a year-over-year basis. As a group, research analysts anticipate that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, May 7th. KB Home’s payout ratio is presently 25.38%.

Analyst Ratings Changes

Several research firms recently issued reports on KBH. Citizens Jmp began coverage on shares of KB Home in a report on Tuesday, March 24th. They issued an “outperform” rating and a $77.00 target price for the company. Bank of America reduced their target price on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Seaport Research Partners reissued a “sell” rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Barclays reduced their target price on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Finally, Truist Financial reduced their target price on shares of KB Home from $54.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 4th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.17.

KB Home 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.