State of Alaska Department of Revenue Purchases 395 Shares of KB Home (NYSE:KBH)

State of Alaska Department of Revenue grew its position in shares of KB Home (NYSE:KBH) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,370 shares of the construction company’s stock after buying an additional 395 shares during the quarter. State of Alaska Department of Revenue’s holdings in KB Home were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of KBH. Allspring Global Investments Holdings LLC lifted its position in shares of KB Home by 9.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,097 shares of the construction company’s stock worth $645,000 after buying an additional 804 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KB Home by 17.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,222 shares of the construction company’s stock worth $2,851,000 after purchasing an additional 6,063 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of KB Home by 53.5% during the 1st quarter. BNP Paribas Financial Markets now owns 133,404 shares of the construction company’s stock worth $9,456,000 after purchasing an additional 46,505 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of KB Home by 57.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,780 shares of the construction company’s stock worth $1,615,000 after purchasing an additional 8,267 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of KB Home by 600.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,300 shares of the construction company’s stock worth $447,000 after purchasing an additional 5,400 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

KBH has been the subject of several research analyst reports. Royal Bank of Canada lowered shares of 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. Bank of America lifted 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. Evercore ISI lifted their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group lifted their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Wedbush lifted their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus target price of $77.50.

KB Home Stock Down 2.6 %

KB Home stock opened at $79.90 on Thursday. The company has a market capitalization of $5.86 billion, a PE ratio of 10.24, a P/E/G ratio of 0.68 and a beta of 1.81. The firm has a fifty day simple moving average of $82.22 and a two-hundred day simple moving average of $76.45. KB Home has a twelve month low of $50.08 and a twelve month high of $89.70.

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

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.52% of the stock is currently owned by insiders.

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.