The New York State Teachers Retirement System Sold shares of KB Home (KBH)

The New York State Teachers Retirement System Sold shares of KB Home (KBH)

New York State Teachers Retirement System reduced its stake in shares of KB Home (NYSE:KBH) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,849 shares of the company’s stock after selling 400 shares during the period. New York State Teachers Retirement System’s holdings in KB Home were worth $2,568,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. increased its position in KB Home by 325.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,444,001 shares of the company’s stock valued at $21,963,000 after buying an additional 1,104,500 shares during the period. Balasa Dinverno & Foltz LLC purchased a new stake in shares of KB Home during the second quarter worth about $469,000. Foundry Partners LLC purchased a new stake in shares of KB Home during the second quarter worth about $7,546,000. Fisher Asset Management LLC increased its stake in shares of KB Home by 4.3% in the second quarter. Fisher Asset Management LLC now owns 3,708,830 shares of the company’s stock worth $59,823,000 after buying an additional 151,347 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of KB Home by 2,051.7% in the second quarter. BNP Paribas Arbitrage SA now owns 39,011 shares of the company’s stock worth $593,000 after buying an additional 37,198 shares during the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.

Shares of KB Home (NYSE:KBH) traded down 1.26% during mid-day trading on Thursday, hitting $15.62. 1,370,960 shares of the stock traded hands. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 13.52 and a beta of 1.99. KB Home has a 52 week low of $9.04 and a 52 week high of $16.76. The firm’s 50-day moving average is $15.65 and its 200-day moving average is $14.89.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. KB Home had a return on equity of 6.77% and a net margin of 3.31%. The company earned $913.30 million during the quarter. During the same period in the previous year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that KB Home will post $1.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, November 1st. KB Home’s dividend payout ratio is currently 8.62%.

A number of equities research analysts have issued reports on the stock. Buckingham Research downgraded shares of KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, July 18th. MKM Partners reiterated a “hold” rating on shares of KB Home in a research note on Wednesday, June 22nd. Bank of America Corp. reiterated a “sell” rating and set a $12.50 price objective on shares of KB Home in a research note on Wednesday, September 21st. RBC Capital Markets reiterated a “sector perform” rating and set a $17.00 price objective (up from $16.00) on shares of KB Home in a research note on Thursday, September 22nd. Finally, FBR & Co reiterated a “market perform” rating and set a $16.00 price objective on shares of KB Home in a research note on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. KB Home has a consensus rating of “Hold” and an average price target of $15.40.

In other KB Home news, insider Jeffrey T. Mezger sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total value of $8,235,000.00. Following the completion of the sale, the insider now owns 606,716 shares of the company’s stock, valued at $9,992,612.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey T. Mezger sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $16.39, for a total value of $1,802,900.00. Following the completion of the sale, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at approximately $9,944,075.24. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

About KB Home

KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.

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