KB Home (NYSE:KBH) Stock Holdings Lifted by Citigroup Inc.

Citigroup Inc. increased its holdings in KB Home (NYSE:KBH) by 62.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,051 shares of the construction company’s stock after buying an additional 40,992 shares during the period. Citigroup Inc.’s holdings in KB Home were worth $9,173,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LSV Asset Management increased its position in KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after buying an additional 572,800 shares during the period. Swedbank AB acquired a new position in KB Home during the 1st quarter valued at about $13,047,000. WINTON GROUP Ltd raised its position in shares of KB Home by 754.7% during the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after buying an additional 182,595 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after buying an additional 164,010 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after acquiring an additional 147,326 shares during the period. Institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KBH. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wedbush raised their price objective on 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 for the company. in a report on Thursday, September 5th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Finally, Bank of America increased their target price 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. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.50.

Insiders Place Their Bets

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s 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 of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.44% of the company’s stock.

KB Home Price Performance

KB Home stock opened at $82.79 on Friday. The firm has a market capitalization 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 stock has a fifty day moving average price of $81.24 and a two-hundred day moving average price of $77.95. KB Home has a 52-week low of $51.53 and a 52-week high of $89.70.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS 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 analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 earnings per share. On average, equities research analysts predict that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home’s payout ratio is presently 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.