Cerity Partners LLC Increases Position in KB Home (NYSE:KBH)

Cerity Partners LLC lifted its holdings in shares of KB Home (NYSE:KBH) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,742 shares of the construction company’s stock after buying an additional 7,679 shares during the period. Cerity Partners LLC owned approximately 0.05% of KB Home worth $3,320,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in KB Home during the 3rd quarter worth $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home during the third quarter worth $43,000. Banque Cantonale Vaudoise purchased a new position in KB Home in the third quarter worth $61,000. Tortoise Investment Management LLC lifted its holdings 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 valued at $78,000 after acquiring an additional 963 shares during the period. Finally, Quest Partners LLC boosted its holdings in 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 buying an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 0.1 %

NYSE:KBH opened at $82.79 on Friday. The company has a market cap of $6.07 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.71 and a beta of 1.81. The firm’s 50 day moving average is $81.24 and its two-hundred day moving average is $77.95. KB Home has a fifty-two week low of $51.53 and a fifty-two week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. KB Home’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. Research analysts forecast 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. Investors of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.21%. KB Home’s payout ratio is 12.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KBH shares. Royal Bank of Canada downgraded 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 report on Thursday, September 5th. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $80.00 to $83.00 in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on 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 raised their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, KB Home has an average rating of “Hold” and an average price target of $77.50.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Monday, October 14th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.44% of the company’s stock.

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.