Harvest Fund Management Co. Ltd Cuts Position in KB Home (NYSE:KBH)

Harvest Fund Management Co. Ltd cut its stake in KB Home (NYSE:KBH) by 82.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,349 shares of the construction company’s stock after selling 10,970 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in KB Home were worth $154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in shares of KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of KB Home in the 3rd quarter worth $89,899,000. Hennessy Advisors Inc. acquired a new stake in shares of KB Home in the 4th quarter worth $44,118,000. Raymond James Financial Inc. acquired a new stake in shares of KB Home in the 4th quarter worth $12,288,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after purchasing an additional 164,010 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated 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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by company insiders.

KB Home Stock Performance

NYSE KBH opened at $59.61 on Friday. 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 has a fifty-two week low of $58.80 and a fifty-two week high of $89.70. The stock has a 50-day simple moving average of $64.22 and a two-hundred day simple moving average of $73.12. The firm has a market capitalization of $4.26 billion, a P/E ratio of 7.04, a PEG ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business earned $1.85 EPS. KB Home’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. KB Home’s dividend payout ratio is presently 11.81%.

Analysts Set New Price Targets

A number of brokerages have commented on KBH. Wells Fargo & Company lowered their price target on KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Evercore ISI lifted their price target on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered 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. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.21.

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.