Charles Schwab Investment Management Inc. Raises Holdings in KB Home (NYSE:KBH)

Charles Schwab Investment Management Inc. boosted its position in shares of KB Home (NYSE:KBH) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 906,236 shares of the construction company’s stock after buying an additional 164,010 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.24% of KB Home worth $77,655,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in shares of KB Home during the 3rd quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new position in KB Home during the third quarter valued at $43,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the third quarter valued at about $61,000. Quest Partners LLC increased its stake in shares of KB Home by 101,600.0% during the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Plato Investment Management Ltd raised its position in shares of KB Home by 72.0% during the 1st 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 during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KB Home

In related 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.52% of the stock is owned by insiders.

KB Home Price Performance

NYSE:KBH opened at $82.86 on Thursday. The company’s 50-day moving average is $81.47 and its two-hundred day moving average is $77.82. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.73 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.80 earnings per share. As a group, equities analysts anticipate 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 was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

Analysts Set New Price Targets

KBH has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. 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. Wedbush increased their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Finally, Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research report on Thursday, September 5th. Four 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, the company has a consensus rating of “Hold” and an average price target 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.