Handelsbanken Fonder AB Increases Stock Position in KB Home (NYSE:KBH)

Handelsbanken Fonder AB boosted its stake in shares of KB Home (NYSE:KBH) by 54.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,074 shares of the construction company’s stock after buying an additional 7,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in KB Home were worth $1,892,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KBH. Heritage Wealth Management Inc. purchased a new position in shares of KB Home in the second quarter valued at approximately $575,000. Sanctuary Advisors LLC purchased a new position in shares of KB Home in the second quarter valued at approximately $691,000. Cetera Investment Advisers boosted its stake in shares of KB Home by 3.1% in the second quarter. Cetera Investment Advisers now owns 23,097 shares of the construction company’s stock valued at $1,621,000 after purchasing an additional 698 shares during the period. Invst LLC lifted its stake in KB Home by 6.4% in the second quarter. Invst LLC now owns 12,547 shares of the construction company’s stock worth $846,000 after acquiring an additional 751 shares during the last quarter. Finally, Creative Planning lifted its stake in KB Home by 20.9% in the second quarter. Creative Planning now owns 23,662 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 4,096 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

Shares of KB Home stock opened at $79.76 on Friday. The firm’s fifty day simple moving average is $82.53 and its 200-day simple moving average is $74.46. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.89 and a beta of 1.81. KB Home has a 12 month low of $42.11 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.43% and a return on equity of 15.66%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that KB Home will post 8.38 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. KB Home’s dividend payout ratio (DPR) is 13.23%.

Analyst Upgrades and Downgrades

KBH has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. The Goldman Sachs Group lifted their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $80.00 to $83.00 in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Finally, Evercore ISI lifted their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, KB Home has an average rating of “Hold” and an average price target of $77.50.

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.