KB Home (NYSE:KBH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of KB Home (NYSE:KBH) by 30.1% during the third quarter, Holdings Channel reports. The firm owned 53,557 shares of the construction company’s stock after selling 23,072 shares during the period. Victory Capital Management Inc.’s holdings in KB Home were worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in KB Home by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,439 shares of the construction company’s stock valued at $3,363,000 after acquiring an additional 1,780 shares during the period. Public Employees Retirement System of Ohio increased its position in KB Home by 9.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 46,183 shares of the construction company’s stock valued at $3,273,000 after acquiring an additional 4,013 shares during the period. Paloma Partners Management Co acquired a new stake in KB Home in the 1st quarter valued at approximately $531,000. Caxton Associates LP boosted its stake in KB Home by 49.4% during the 1st quarter. Caxton Associates LP now owns 38,201 shares of the construction company’s stock valued at $2,708,000 after purchasing an additional 12,631 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in KB Home during the 1st quarter valued at $1,063,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Trading Up 2.0 %

Shares of KBH stock opened at $79.38 on Friday. The stock has a market cap of $5.82 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.66 and a beta of 1.81. The stock has a 50 day simple moving average of $81.78 and a 200 day simple moving average of $77.42. KB Home has a 1 year low of $51.53 and a 1 year high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a research note on Thursday, September 5th. The Goldman Sachs Group increased their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Wedbush raised their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Bank of America raised their price objective on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.44% of the company’s stock.

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.