UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in KB Home (NYSE:KBH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in KB Home (NYSE:KBH) by 39.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,105 shares of the construction company’s stock after selling 136,644 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of KB Home worth $17,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KBH. Financial Management Professionals Inc. purchased a new position in shares of KB Home during the 3rd quarter worth $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home during the 3rd quarter worth $43,000. Banque Cantonale Vaudoise purchased a new position in shares of KB Home during the 3rd quarter worth $61,000. Quest Partners LLC boosted its stake in shares of KB Home by 101,600.0% during the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of KB Home by 625.3% during the 2nd 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. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.44% of the company’s stock.

KB Home Stock Performance

Shares of NYSE KBH opened at $78.47 on Friday. The company has a market cap of $5.75 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.65 and a beta of 1.81. The firm’s fifty day moving average is $80.72 and its two-hundred day moving average is $78.21. KB Home has a 52-week low of $54.94 and a 52-week 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 for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.27%. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KBH. Wedbush lifted their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $80.00 to $83.00 in a research report on Monday, October 7th. 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 research report on Thursday, September 19th. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group raised their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.50.

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.