KB Home (NYSE:KBH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of KB Home (NYSE:KBH) by 58.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,633 shares of the construction company’s stock after selling 115,807 shares during the period. The Manufacturers Life Insurance Company’s holdings in KB Home were worth $7,081,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of KB Home by 0.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after acquiring an additional 161 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of KB Home by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 162 shares in the last quarter. CWM LLC grew its stake in shares of KB Home by 10.2% during the third quarter. CWM LLC now owns 1,975 shares of the construction company’s stock valued at $169,000 after acquiring an additional 183 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of KB Home by 3.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock valued at $353,000 after acquiring an additional 189 shares in the last quarter. Finally, Jupiter Wealth Management LLC grew its stake in shares of KB Home by 1.2% during the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock valued at $1,619,000 after acquiring an additional 225 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Trading Down 3.7 %

KBH opened at $79.69 on Thursday. The business’s 50 day moving average is $80.99 and its 200-day moving average is $78.18. The stock has a market cap of $5.84 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.81. KB Home has a twelve month low of $54.00 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share 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 the consensus estimate of $1.73 billion. During the same period last year, the firm posted $1.80 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. KB Home’s payout ratio is 12.82%.

Analysts Set New Price Targets

A number of research firms recently commented on KBH. Wedbush lifted their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Bank of America lifted their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada downgraded 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. Barclays lifted their price target on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company downgraded 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, October 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home 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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.52% of the stock is owned by corporate insiders.

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.