Aristotle Capital Boston LLC Decreases Holdings in KB Home $KBH

Aristotle Capital Boston LLC trimmed its position in shares of KB Home (NYSE:KBH) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,647 shares of the construction company’s stock after selling 31,730 shares during the period. Aristotle Capital Boston LLC’s holdings in KB Home were worth $17,298,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of KB Home by 3.1% during the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock valued at $185,562,000 after buying an additional 106,926 shares in the last quarter. Freestone Grove Partners LP purchased a new position in KB Home in the 3rd quarter worth approximately $111,050,000. Invesco Ltd. increased its stake in KB Home by 1.4% in the 3rd quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company’s stock worth $89,153,000 after purchasing an additional 19,330 shares during the period. Deprince Race & Zollo Inc. increased its stake 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 purchasing an additional 122,457 shares during the period. Finally, Bank of America Corp DE increased its stake in KB Home by 36.4% in the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock worth $65,758,000 after purchasing an additional 275,965 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of KBH stock opened at $52.43 on Thursday. The firm has a market cap of $3.28 billion, a P/E ratio of 13.31, a P/E/G ratio of 9.51 and a beta of 1.37. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $68.71. The business’s 50 day moving average price is $51.04 and its 200-day moving average price is $56.34.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The firm’s revenue was down 22.6% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 3.1 EPS for the current year.

KB Home Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have commented on KBH. UBS Group decreased their price target on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Bank of America decreased their price target on KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings cut KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Wall Street Zen cut KB Home from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Royal Bank Of Canada decreased their price target on KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Four investment 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 has an average rating of “Hold” and an average target price of $59.17.

About KB Home

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.