Ballentine Partners LLC Decreases Holdings in KB Home (NYSE:KBH)

Ballentine Partners LLC lowered its stake in shares of KB Home (NYSE:KBH) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,965 shares of the construction company’s stock after selling 718 shares during the period. Ballentine Partners LLC’s holdings in KB Home were worth $721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in KB Home during the 3rd quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of KB Home during the third quarter worth approximately $43,000. Versant Capital Management Inc increased its position in shares of KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in KB Home in the 3rd quarter valued at $59,000. Finally, Banque Cantonale Vaudoise purchased a new position in KB Home in the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Price Performance

NYSE KBH opened at $67.89 on Thursday. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70. The stock has a market capitalization of $4.98 billion, a P/E ratio of 8.01, a PEG ratio of 0.91 and a beta of 1.86. The firm’s 50-day moving average is $72.26 and its two-hundred day moving average is $78.04.

KB Home (NYSE:KBH) last posted its quarterly earnings data 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 firm had revenue of $2 billion during 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 quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. As a group, analysts anticipate that KB Home will post 8.67 EPS for the current year.

Analysts Set New Price Targets

KBH has been the subject of a number of recent research reports. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from $70.00 to $67.00 in a research report on Friday, January 10th. Wells Fargo & Company decreased their target price on shares of KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America reduced their price objective on KB Home from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays dropped their target price on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average target price of $76.63.

About KB Home

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.