Brandywine Global Investment Management LLC lessened its holdings in shares of KB Home (NYSE:KBH) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 311,681 shares of the construction company’s stock after selling 31,418 shares during the quarter. Brandywine Global Investment Management LLC owned 0.36% of KB Home worth $9,959,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in shares of KB Home by 5.2% in the 4th quarter. BlackRock Inc. now owns 10,649,861 shares of the construction company’s stock worth $340,261,000 after acquiring an additional 522,007 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of KB Home by 348.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,821,700 shares of the construction company’s stock worth $58,203,000 after acquiring an additional 1,415,300 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of KB Home in the 4th quarter worth approximately $34,238,000. Sadoff Investment Management LLC acquired a new position in shares of KB Home in the 4th quarter worth approximately $32,749,000. Finally, Acadian Asset Management LLC acquired a new position in shares of KB Home in the 4th quarter worth approximately $29,512,000. Hedge funds and other institutional investors own 95.68% of the company’s stock.
KB Home (KBH) opened at $29.93 on Wednesday. KB Home has a 12-month low of $18.32 and a 12-month high of $38.80. The stock has a market capitalization of $2,600.00, a P/E ratio of 16.36, a P/E/G ratio of 0.74 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 5.36.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Wednesday, February 7th. KB Home’s payout ratio is currently 5.46%.
Several research analysts have recently commented on the company. ValuEngine upgraded KB Home from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Credit Suisse Group reiterated a “neutral” rating and issued a $31.00 target price (up previously from $25.00) on shares of KB Home in a research report on Thursday, January 11th. Mizuho set a $35.00 target price on KB Home and gave the stock a “hold” rating in a research report on Thursday, January 18th. Finally, Wedbush lifted their target price on KB Home from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. KB Home currently has an average rating of “Hold” and an average target price of $29.07.
In other KB Home news, SVP Thomas F. Norton sold 47,179 shares of KB Home stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the sale, the senior vice president now owns 103,562 shares of the company’s stock, valued at approximately $3,139,999.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of KB Home stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total value of $4,066,250.00. Following the sale, the chief financial officer now directly owns 237,775 shares in the company, valued at approximately $7,734,820.75. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.
COPYRIGHT VIOLATION NOTICE: “KB Home (KBH) Holdings Trimmed by Brandywine Global Investment Management LLC” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/14/kb-home-kbh-holdings-trimmed-by-brandywine-global-investment-management-llc.html.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
Want to see what other hedge funds are holding KBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Home (NYSE:KBH).
Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.