KB Home (NYSE:KBH) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in KB Home (NYSE:KBH) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,715 shares of the construction company’s stock after acquiring an additional 7,100 shares during the period. Franklin Resources Inc. owned 0.09% of KB Home worth $5,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new stake in shares of KB Home during the third quarter valued at about $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home in the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB acquired a new stake in KB Home in the 3rd quarter valued at approximately $59,000. Banque Cantonale Vaudoise purchased a new stake in KB Home in the third quarter valued at approximately $61,000. Finally, Tortoise Investment Management LLC lifted its stake in KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after purchasing an additional 963 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of research reports. Bank of America lifted their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. The Goldman Sachs Group lifted their target price on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company reduced their price target on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $99.00 to $85.00 in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.17.

Insiders Place Their Bets

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s 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 directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.44% of the company’s stock.

KB Home Stock Performance

Shares of NYSE KBH opened at $65.90 on Tuesday. The stock’s 50-day simple moving average is $78.62 and its 200-day simple moving average is $78.45. The firm has a market capitalization of $4.83 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings data 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $1.80 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. KB Home’s dividend payout ratio (DPR) is presently 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.