Cetera Investment Advisers Purchases 698 Shares of KB Home (NYSE:KBH)

Cetera Investment Advisers raised its holdings in KB Home (NYSE:KBH) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,097 shares of the construction company’s stock after acquiring an additional 698 shares during the quarter. Cetera Investment Advisers’ holdings in KB Home were worth $1,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after purchasing an additional 147,326 shares in the last quarter. LSV Asset Management lifted its stake in shares of KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after buying an additional 572,800 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of KB Home by 2.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after buying an additional 18,981 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after acquiring an additional 3,993 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of KB Home by 10.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company’s stock worth $48,843,000 after acquiring an additional 67,628 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on KBH. Evercore ISI lifted their price target on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $80.00 to $83.00 in a research report on Monday, October 7th. 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 on the stock. in a report on Thursday, September 5th. Finally, Barclays increased their target price on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.50.

KB Home Stock Performance

NYSE KBH opened at $81.19 on Tuesday. The company has a market capitalization of $6.11 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.81. KB Home has a 52-week low of $42.11 and a 52-week high of $89.70. The company has a 50-day simple moving average of $82.51 and a 200 day simple moving average of $74.73.

KB Home (NYSE:KBH) last issued 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $1.80 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that KB Home will post 8.41 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. KB Home’s dividend payout ratio is presently 13.23%.

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.