858,316 Shares in KB Home $KBH Purchased by Norges Bank

Norges Bank acquired a new position in shares of KB Home (NYSE:KBH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 858,316 shares of the construction company’s stock, valued at approximately $48,418,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Horizon Corp raised its stake in shares of KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of KB Home during the third quarter valued at approximately $36,000. Aventura Private Wealth LLC acquired a new stake in shares of KB Home in the fourth quarter valued at approximately $46,000. Rothschild Investment LLC increased its holdings in shares of KB Home by 391.0% in the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock valued at $46,000 after purchasing an additional 653 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in KB Home by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock worth $49,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KBH. Barclays reduced their price objective on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. UBS Group dropped their target price on KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Wall Street Zen lowered KB Home from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Seaport Research Partners reiterated a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group lowered their price objective on KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $59.17.

KB Home Trading Up 0.2%

NYSE KBH opened at $52.13 on Monday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The stock has a 50-day simple moving average of $50.72 and a 200 day simple moving average of $56.81. The company has a market capitalization of $3.27 billion, a PE ratio of 13.23, a P/E/G ratio of 9.19 and a beta of 1.37.

KB Home (NYSE:KBH) last issued its 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. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The company’s revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.49 earnings per share. As a group, sell-side analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. KB Home’s payout ratio is currently 25.38%.

KB Home Company 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.