Retirement Systems of Alabama Grows Holdings in KB Home (NYSE:KBH)

Retirement Systems of Alabama increased its position in KB Home (NYSE:KBH) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,164 shares of the construction company’s stock after acquiring an additional 1,194 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of KB Home worth $3,780,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KBH. New York State Teachers Retirement System boosted its position in shares of KB Home by 2.0% during the 3rd quarter. New York State Teachers Retirement System now owns 161,349 shares of the construction company’s stock valued at $5,486,000 after acquiring an additional 3,200 shares during the last quarter. Rhumbline Advisers grew its stake in KB Home by 1.5% in the third quarter. Rhumbline Advisers now owns 269,010 shares of the construction company’s stock valued at $9,146,000 after purchasing an additional 4,102 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in KB Home in the third quarter worth about $2,965,000. Strs Ohio lifted its holdings in shares of KB Home by 510.0% during the third quarter. Strs Ohio now owns 6,100 shares of the construction company’s stock worth $207,000 after purchasing an additional 5,100 shares during the period. Finally, Oakbrook Investments LLC acquired a new position in KB Home in the third quarter valued at approximately $201,000. 88.43% of the stock is owned by institutional investors.

NYSE:KBH opened at $32.61 on Friday. The stock’s 50 day moving average price is $34.36 and its 200 day moving average price is $28.62. The company has a market capitalization of $2.88 billion, a PE ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.32. The company has a quick ratio of 0.52, a current ratio of 4.82 and a debt-to-equity ratio of 0.82. KB Home has a 52-week low of $16.82 and a 52-week high of $37.40.

KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, September 25th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. KB Home had a return on equity of 11.18% and a net margin of 5.58%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $0.87 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that KB Home will post 2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.10%. KB Home’s payout ratio is 12.77%.

Several equities analysts have recently commented on KBH shares. Seaport Global Securities lowered KB Home from a “buy” rating to a “neutral” rating in a research note on Monday, November 4th. Buckingham Research upped their price target on KB Home from $33.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Evercore ISI upgraded KB Home from an “in-line” rating to an “outperform” rating and set a $26.74 price target on the stock in a report on Wednesday, July 17th. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective (up previously from $25.00) on shares of KB Home in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price objective on KB Home to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $31.69.

In other news, EVP Brian J. Woram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $29.03, for a total value of $290,300.00. Following the completion of the sale, the executive vice president now directly owns 151,770 shares of the company’s stock, valued at approximately $4,405,883.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey T. Mezger sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $36.24, for a total value of $7,248,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,061,326 shares of the company’s stock, valued at $38,462,454.24. The disclosure for this sale can be found here. Insiders have sold a total of 480,643 shares of company stock valued at $16,400,943 over the last ninety days. 7.32% of the stock is owned by insiders.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

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

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