Swiss National Bank Lowers Stock Holdings in KB Home (NYSE:KBH)

Swiss National Bank lessened its holdings in KB Home (NYSE:KBH) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,900 shares of the construction company’s stock after selling 2,400 shares during the period. Swiss National Bank’s holdings in KB Home were worth $12,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in KB Home in 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 worth approximately $43,000. Plato Investment Management Ltd raised its holdings in KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after acquiring an additional 452 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares during the last quarter. 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 worth $109,000 after acquiring an additional 241 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction 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 directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KBH shares. Bank of America raised their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group raised 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. Barclays increased their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wedbush boosted their target price 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, 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 on the stock. in a research note on Thursday, September 5th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.50.

KB Home Price Performance

Shares of NYSE:KBH opened at $79.40 on Friday. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70. The stock has a market cap of $5.82 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.66 and a beta of 1.81. The firm has a fifty day moving average price of $81.65 and a 200 day moving average price of $77.48.

KB Home (NYSE:KBH) last announced its 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 for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. Sell-side analysts expect that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced 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. 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 currently 12.82%.

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.