Wedge Capital Management L L P NC Sells 1,235 Shares of KB Home (NYSE:KBH)

Wedge Capital Management L L P NC trimmed its stake in KB Home (NYSE:KBH) by 5.2% in the fourth quarter, Holdings Channel reports. The firm owned 22,725 shares of the construction company’s stock after selling 1,235 shares during the quarter. Wedge Capital Management L L P NC’s holdings in KB Home were worth $1,419,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in KB Home in the fourth quarter valued at approximately $56,000. Fifth Third Bancorp boosted its stake in shares of KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock worth $43,000 after acquiring an additional 270 shares during the period. Whittier Trust Co. bought a new position in shares of KB Home during the 4th quarter worth approximately $62,000. CI Investments Inc. bought a new position in shares of KB Home during the 3rd quarter worth approximately $145,000. Finally, Kendall Capital Management bought a new position in shares of KB Home during the 4th quarter worth approximately $245,000. 96.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KB Home

In other KB Home news, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the completion of the transaction, the chief accounting officer now directly owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now owns 109,981 shares in the company, valued at approximately $6,650,551.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,294,522.88. The disclosure for this sale can be found here. Insiders sold 172,629 shares of company stock valued at $10,675,718 in the last three months. Corporate insiders own 4.44% of the company’s stock.

KB Home Price Performance

Shares of NYSE KBH opened at $64.25 on Friday. The stock has a market capitalization of $4.87 billion, a PE ratio of 8.74, a P/E/G ratio of 0.73 and a beta of 1.73. The business has a fifty day moving average price of $66.10 and a two-hundred day moving average price of $59.08. KB Home has a fifty-two week low of $40.97 and a fifty-two week high of $72.00.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.19. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. On average, equities analysts expect that KB Home will post 8.01 EPS for the current year.

KB Home Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 8th. This is a boost from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.56%. KB Home’s payout ratio is currently 10.88%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 21st. Barclays lifted their target price on KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. UBS Group lifted their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Raymond James lifted their target price on KB Home from $61.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Finally, Evercore ISI reduced their target price on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus target price of $66.11.

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.