KB Home (NYSE:KBH) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in shares of KB Home (NYSE:KBH) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,434 shares of the construction company’s stock after selling 8,663 shares during the quarter. Raymond James & Associates’ holdings in KB Home were worth $6,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KBH. Capstone Investment Advisors LLC purchased a new position in KB Home during the first quarter worth approximately $935,000. Hancock Whitney Corp boosted its holdings in KB Home by 311.0% in the first quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock valued at $1,150,000 after purchasing an additional 12,273 shares during the period. Virtu Financial LLC purchased a new position in KB Home in the first quarter worth approximately $1,078,000. Entropy Technologies LP purchased a new stake in KB Home during the first quarter worth approximately $640,000. Finally, SG Americas Securities LLC grew its holdings in shares of KB Home by 1,333.9% during the first quarter. SG Americas Securities LLC now owns 42,342 shares of the construction company’s stock worth $3,001,000 after purchasing an additional 39,389 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KBH. Barclays lifted their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Bank of America upped their target price on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group increased their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. Finally, Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.50.

KB Home Stock Performance

KBH opened at $78.53 on Friday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.67 and a beta of 1.81. KB Home has a twelve month low of $43.34 and a twelve month high of $89.70. The firm’s 50-day simple moving average is $82.58 and its 200-day simple moving average is $75.83.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.27%. KB Home’s dividend payout ratio is currently 12.82%.

About KB Home

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.