KB Home (NYSE:KBH) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in KB Home (NYSE:KBH) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,076 shares of the construction company’s stock after selling 62,433 shares during the period. Pictet Asset Management Holding SA owned approximately 0.48% of KB Home worth $22,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Holocene Advisors LP acquired a new stake in shares of KB Home in the third quarter valued at $89,899,000. Norges Bank acquired a new stake in KB Home in the 4th quarter valued at about $49,638,000. Hennessy Advisors Inc. bought a new position in shares of KB Home during the 4th quarter valued at about $44,118,000. Raymond James Financial Inc. acquired a new position in shares of KB Home in the 4th quarter worth approximately $12,288,000. Finally, Quantbot Technologies LP raised its holdings in shares of KB Home by 4,083.5% in the 4th quarter. Quantbot Technologies LP now owns 146,422 shares of the construction company’s stock worth $9,623,000 after purchasing an additional 142,922 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Trading Up 0.9 %

KB Home stock opened at $58.24 on Tuesday. KB Home has a 12 month low of $56.41 and a 12 month high of $89.70. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4.16 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.90 and a beta of 1.89. The company’s fifty day simple moving average is $63.23 and its 200-day simple moving average is $72.19.

KB Home (NYSE:KBH) last issued its earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 EPS. As a group, sell-side analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 12.20%.

Wall Street Analyst Weigh In

KBH has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. UBS Group decreased their target price on KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company cut their target price on KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. 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 note on Tuesday, January 14th. Finally, The Goldman Sachs Group reduced their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.21.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.89% of the company’s stock.

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.