TIAA CREF Investment Management LLC lowered its position in KB Home (NYSE:KBH) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,738 shares of the construction company’s stock after selling 12,564 shares during the period. TIAA CREF Investment Management LLC owned 0.31% of KB Home worth $5,263,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Braun Stacey Associates Inc. raised its position in shares of KB Home by 279.5% in the first quarter. Braun Stacey Associates Inc. now owns 908,955 shares of the construction company’s stock worth $18,070,000 after buying an additional 669,415 shares during the period. Russell Investments Group Ltd. raised its position in shares of KB Home by 1,401.0% in the first quarter. Russell Investments Group Ltd. now owns 79,900 shares of the construction company’s stock worth $1,588,000 after buying an additional 74,577 shares during the period. Hartwell J M Limited Partnership acquired a new position in shares of KB Home during the first quarter worth about $209,000. Louisiana State Employees Retirement System raised its position in shares of KB Home by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the construction company’s stock worth $417,000 after buying an additional 400 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of KB Home by 3.0% in the first quarter. Capstone Asset Management Co. now owns 26,415 shares of the construction company’s stock worth $525,000 after buying an additional 760 shares during the period. Institutional investors and hedge funds own 98.69% of the company’s stock.
KB Home (KBH) opened at 23.43 on Thursday. The stock’s 50 day moving average price is $22.67 and its 200 day moving average price is $19.73. The firm has a market cap of $2.00 billion, a P/E ratio of 18.05 and a beta of 1.64. KB Home has a 1-year low of $14.06 and a 1-year high of $24.37.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $929.85 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities research analysts predict that KB Home will post $1.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, August 1st. KB Home’s dividend payout ratio is currently 7.69%.
ILLEGAL ACTIVITY NOTICE: This report was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://stocknewstimes.com/2017/07/20/tiaa-cref-investment-management-llc-reduces-stake-in-kb-home-nysekbh.html.
A number of equities analysts recently weighed in on the stock. Barclays PLC lowered shares of KB Home to a “sell” rating in a research report on Tuesday, July 11th. Mizuho lowered shares of KB Home from a “neutral” rating to an “underperform” rating and set a $21.00 price objective on the stock. in a research report on Monday, July 10th. Deutsche Bank AG lifted their price objective on shares of KB Home from $20.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Royal Bank Of Canada lifted their price objective on shares of KB Home from $22.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 28th. Finally, Bank of America Corporation lifted their price objective on shares of KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a research report on Wednesday, June 28th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. KB Home presently has an average rating of “Hold” and a consensus price target of $19.63.
In other news, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the completion of the transaction, the chief financial officer now owns 178,251 shares of the company’s stock, valued at approximately $4,171,073.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.
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.
Want to see what other hedge funds are holding KBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Home (NYSE:KBH).
Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.
