MML Investors Services LLC Purchases Shares of 5,417 KB Home (NYSE:KBH)

MML Investors Services LLC acquired a new stake in KB Home (NYSE:KBH) in the third quarter, HoldingsChannel reports. The institutional investor acquired 5,417 shares of the construction company’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in KB Home by 22.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after purchasing an additional 164,010 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after buying an additional 7,679 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in KB Home in the 2nd quarter valued at $479,000. Citigroup Inc. grew its position in KB Home by 62.1% in the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock valued at $9,173,000 after acquiring an additional 40,992 shares during the period. Finally, Hancock Whitney Corp raised its stake in KB Home by 47.6% during the second quarter. Hancock Whitney Corp now owns 23,943 shares of the construction company’s stock worth $1,680,000 after acquiring an additional 7,724 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Trading Up 0.1 %

KB Home stock opened at $65.90 on Tuesday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The company’s 50-day moving average is $78.62 and its two-hundred day moving average is $78.45. The company has a market cap of $4.83 billion, a PE ratio of 8.45, a PEG ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last announced its quarterly earnings data 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.80 earnings per share. Research analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 annualized dividend and a dividend yield of 1.52%. KB Home’s dividend payout ratio is currently 12.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America boosted 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. Wells Fargo & Company decreased their price objective on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. Wedbush lifted their target price on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Finally, Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $99.00 to $85.00 in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average target price of $79.17.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.44% of the stock is owned by insiders.

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.