New York State Teachers Retirement System cut its stake in shares of KB Home (NYSE:KBH) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,449 shares of the construction company’s stock after selling 20,900 shares during the quarter. New York State Teachers Retirement System owned 0.18% of KB Home worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of KBH. CenterStar Asset Management LLC purchased a new stake in KB Home during the 2nd quarter valued at about $128,000. Cerebellum GP LLC purchased a new stake in KB Home during the 2nd quarter valued at about $176,000. Cim Investment Mangement Inc. purchased a new stake in KB Home during the 1st quarter valued at about $203,000. Point72 Asia Hong Kong Ltd purchased a new stake in KB Home during the 1st quarter valued at about $238,000. Finally, Koch Industries Inc. purchased a new stake in KB Home during the 1st quarter valued at about $246,000. Institutional investors own 86.15% of the company’s stock.

In other news, insider Jeffrey T. Mezger sold 272,818 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total value of $6,381,213.02. Following the completion of the transaction, the insider now owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey T. Mezger sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $23.56, for a total value of $2,356,000.00. Following the completion of the transaction, the chief executive officer now directly owns 861,287 shares of the company’s stock, valued at approximately $20,291,921.72. The disclosure for this sale can be found here. Insiders sold a total of 497,818 shares of company stock valued at $11,752,213 in the last three months. Corporate insiders own 8.60% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut KB Home from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Citigroup assumed coverage on KB Home in a report on Tuesday, June 19th. They issued a “neutral” rating and a $14.00 price objective for the company. Wedbush dropped their price objective on KB Home from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, June 29th. Bank of America upgraded KB Home from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $37.00 in a report on Friday, June 29th. Finally, Barclays upgraded KB Home from an “underweight” rating to an “equal weight” rating in a report on Friday, June 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.

NYSE KBH opened at $23.73 on Friday. KB Home has a fifty-two week low of $20.68 and a fifty-two week high of $38.80. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.48 and a beta of 1.43.

KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, June 28th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. KB Home had a return on equity of 12.31% and a net margin of 2.67%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue was up 9.8% on a year-over-year basis. sell-side analysts forecast that KB Home will post 2.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Thursday, August 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Wednesday, August 1st. KB Home’s dividend payout ratio is currently 5.41%.

About KB Home

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

Further Reading: Diversification

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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