Mutual of America Capital Management LLC Decreases Holdings in KB Home (NYSE:KBH)

Mutual of America Capital Management LLC cut its stake in KB Home (NYSE:KBH) by 7.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,958 shares of the construction company’s stock after selling 3,144 shares during the quarter. Mutual of America Capital Management LLC’s holdings in KB Home were worth $3,338,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the 3rd quarter valued at about $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of KB Home during the third quarter valued at approximately $43,000. Plato Investment Management Ltd lifted its position in shares of KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after purchasing an additional 452 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the period. Finally, Blue Trust Inc. grew its holdings in KB Home by 23.4% during the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock valued at $109,000 after purchasing an additional 241 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.44% of the company’s stock.

KB Home Stock Up 2.0 %

Shares of NYSE:KBH opened at $79.38 on Friday. The firm has a 50-day simple moving average of $81.78 and a 200 day simple moving average of $77.42. KB Home has a fifty-two week low of $51.53 and a fifty-two week high of $89.70. The company has a market cap of $5.82 billion, a PE ratio of 10.18, a P/E/G ratio of 0.66 and a beta of 1.81.

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

KB Home Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is 12.82%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays raised their target price on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research note on Thursday, September 5th. Wedbush lifted their price target on shares of 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 increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, KB Home presently has an average rating of “Hold” and an average target price of $77.50.

KB Home Company 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.