Prudential Financial Inc. Acquires 31,774 Shares of KB Home (NYSE:KBH)

Prudential Financial Inc. grew its holdings in shares of KB Home (NYSE:KBH) by 23.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,917 shares of the construction company’s stock after purchasing an additional 31,774 shares during the period. Prudential Financial Inc.’s holdings in KB Home were worth $11,101,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC boosted its stake in shares of KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after buying an additional 1,752,498 shares during the period. State Street Corp raised its holdings in KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after acquiring an additional 45,311 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of KB Home by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock valued at $149,928,000 after acquiring an additional 75,143 shares during the period. Geode Capital Management LLC grew its holdings in shares of KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after purchasing an additional 16,593 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of KB Home in the third quarter worth $89,899,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KBH shares. Raymond James reaffirmed an “outperform” rating and set a $80.00 price objective (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods reduced their price target on shares of KB Home from $76.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America lowered their price target on KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $71.21.

KB Home Stock Performance

Shares of KBH stock opened at $57.79 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a one year low of $56.41 and a one year high of $89.70. The business’s 50 day simple moving average is $63.43 and its 200 day simple moving average is $72.46. The stock has a market capitalization of $4.13 billion, a PE ratio of 6.82, a PEG ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 12.20%.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.89% of the stock is owned by company insiders.

KB Home 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.