Northwestern Mutual Investment Management Company LLC reduced its stake in KB Home (NYSE:KBH) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 14,426 shares of the company’s stock after selling 171 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in KB Home were worth $219,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank purchased a new stake in KB Home during the second quarter worth $161,000. Teacher Retirement System of Texas raised its stake in KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock worth $163,000 after buying an additional 538 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in KB Home during the second quarter worth $166,000. Wedbush Securities Inc. purchased a new stake in KB Home during the second quarter worth $189,000. Finally, Seven Eight Capital LLC purchased a new stake in KB Home during the first quarter worth $219,000. Institutional investors own 92.39% of the company’s stock.
KB Home (NYSE:KBH) opened at 16.09 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 13.99 and a beta of 1.96. The company has a 50 day moving average of $15.53 and a 200-day moving average of $14.73. KB Home has a 12-month low of $9.04 and a 12-month high of $16.76.
KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. KB Home had a net margin of 3.31% and a return on equity of 6.77%. The company earned $913.30 million during the quarter. During the same period last year, the company earned $0.23 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that KB Home will post $1.33 earnings per share for the current year.
A number of analysts have weighed in on the stock. MKM Partners restated a “hold” rating on shares of KB Home in a research note on Wednesday, June 22nd. Zacks Investment Research lowered shares of KB Home from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. Credit Suisse Group AG restated a “sell” rating on shares of KB Home in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price objective (up from $14.00) on shares of KB Home in a research note on Sunday, June 26th. Finally, TheStreet upgraded shares of KB Home from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.40.
In other KB Home news, CEO Jeffrey T. Mezger sold 110,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $16.39, for a total value of $1,802,900.00. Following the completion of the transaction, the chief executive officer now directly owns 606,716 shares in the company, valued at $9,944,075.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey T. Mezger sold 500,000 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the completion of the transaction, the insider now owns 606,716 shares of the company’s stock, valued at $9,992,612.52. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and 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.