Louisiana State Employees Retirement System Invests $947,000 in KB Home $KBH

Louisiana State Employees Retirement System bought a new stake in KB Home (NYSE:KBH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,300 shares of the construction company’s stock, valued at approximately $947,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Corp grew its position in KB Home by 178.9% during the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after purchasing an additional 322 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after buying an additional 250 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home during the third quarter worth about $36,000. Aventura Private Wealth LLC acquired a new stake in shares of KB Home during the fourth quarter worth about $46,000. Finally, Rothschild Investment LLC grew its holdings in shares of KB Home by 391.0% during the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after buying an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 0.1%

Shares of NYSE:KBH opened at $61.13 on Monday. The company has a market cap of $3.83 billion, a P/E ratio of 21.30, a PEG ratio of 10.29 and a beta of 1.34. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The company has a 50-day moving average price of $52.52 and a 200 day moving average price of $55.89.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. KB Home’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. Analysts expect that KB Home will post 3.25 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home’s payout ratio is 34.84%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings downgraded KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group upped their price target on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Bank of America decreased their price target on KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.17.

KB Home Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.