Allianz Asset Management GmbH Decreases Stock Holdings in KB Home (NYSE:KBH)

Allianz Asset Management GmbH reduced its holdings in shares of KB Home (NYSE:KBH) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 734,018 shares of the construction company’s stock after selling 48,317 shares during the quarter. Allianz Asset Management GmbH’s holdings in KB Home were worth $48,240,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in KB Home during the third quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home in the third quarter valued at $43,000. Principal Securities Inc. boosted its stake in shares of KB Home by 43.6% in the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after purchasing an additional 179 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of KB Home in the third quarter valued at $59,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of KB Home in the third quarter valued at $61,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Down 2.4 %

Shares of NYSE:KBH opened at $61.30 on Friday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 0.90 and a beta of 1.86. KB Home has a 1-year low of $60.26 and a 1-year high of $89.70. The company’s fifty day moving average is $66.03 and its two-hundred day moving average is $75.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last issued its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. Equities analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. KB Home’s dividend payout ratio (DPR) is presently 11.81%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their target price on shares of KB Home from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Tuesday, January 28th. Barclays decreased their target price on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their target price on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research note on Friday, January 17th. Finally, Bank of America reduced their price objective on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.21.

KB Home Company Profile

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