Penserra Capital Management LLC Decreases Stake in KB Home (NYSE:KBH)

Penserra Capital Management LLC lessened its holdings in KB Home (NYSE:KBH) by 2.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,624 shares of the construction company’s stock after selling 226 shares during the quarter. Penserra Capital Management LLC’s holdings in KB Home were worth $738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KBH. Financial Management Professionals Inc. bought a new stake in KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of KB Home during the 3rd quarter worth $43,000. Banque Cantonale Vaudoise bought a new stake in shares of KB Home during the 3rd quarter worth $61,000. Quest Partners LLC boosted its holdings in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after buying an additional 1,016 shares during the last quarter. Finally, Plato Investment Management Ltd grew its position in KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after buying an additional 452 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KBH has been the topic of several research reports. Wedbush lifted their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Royal Bank of Canada cut 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 report on Thursday, September 5th. The Goldman Sachs Group increased their price objective on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Bank of America upped their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Barclays lifted their price objective on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, KB Home currently has an average rating of “Hold” and an average target price of $77.50.

KB Home Trading Up 0.2 %

KBH stock opened at $82.86 on Thursday. The firm has a 50 day moving average of $81.47 and a 200-day moving average of $77.82. The firm has a market capitalization of $6.08 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.73 and a beta of 1.81. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last posted its 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). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. Sell-side analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is 12.82%.

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.