Corebridge Financial Inc. Cuts Stake in KB Home (NYSE:KBH)

Corebridge Financial Inc. lowered its holdings in shares of KB Home (NYSE:KBH) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 111,537 shares of the construction company’s stock after selling 9,155 shares during the period. Corebridge Financial Inc. owned about 0.15% of KB Home worth $7,330,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. grew its stake in shares of KB Home by 1.7% during the fourth quarter. Xponance Inc. now owns 9,815 shares of the construction company’s stock valued at $645,000 after buying an additional 163 shares during the last quarter. Principal Securities Inc. grew its position in KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after acquiring an additional 179 shares during the last quarter. Blue Trust Inc. increased its stake in KB Home by 15.3% in the 4th quarter. Blue Trust Inc. now owns 1,465 shares of the construction company’s stock worth $96,000 after purchasing an additional 194 shares during the period. Amundi increased its stake in KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KBH shares. Wells Fargo & Company cut their target price on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a report on Tuesday. Wedbush restated a “neutral” rating and issued a $75.00 price objective on shares of KB Home in a research report on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $80.00 price objective (down from $93.00) on shares of KB Home in a research note on Tuesday, January 21st. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lowered their price target on KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.21.

Insider Buying and Selling at KB Home

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 transaction of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. 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 Stock Down 2.4 %

NYSE:KBH 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. The firm’s 50-day moving average price is $63.43 and its 200-day moving average price is $72.46. The company has a market capitalization of $4.13 billion, a PE ratio of 6.82, a P/E/G ratio of 0.90 and a beta of 1.89. KB Home has a 1-year low of $56.41 and a 1-year high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company posted $1.76 EPS. KB Home’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

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

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.