KB Home (NYSE:KBH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of KB Home (NYSE:KBH) by 29.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,666 shares of the construction company’s stock after selling 87,277 shares during the quarter. Principal Financial Group Inc.’s holdings in KB Home were worth $17,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KBH. Financial Management Professionals Inc. bought a new position in shares of KB Home in the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new position in KB Home in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB acquired a new position in KB Home in the third quarter valued at approximately $59,000. Banque Cantonale Vaudoise acquired a new position in KB Home in the third quarter valued at approximately $61,000. Finally, Tortoise Investment Management LLC raised its position 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 purchasing an additional 963 shares during the period. Institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Bank of America upped their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Barclays downgraded shares of 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. Wedbush upped their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. 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 data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus target price of $79.17.

KB Home Stock Performance

Shares of KBH stock opened at $66.27 on Friday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The business’s fifty day moving average is $77.64 and its 200-day moving average is $78.33. The stock has a market cap of $4.86 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.57 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly 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). 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 posted $1.80 earnings per share. KB Home’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction 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 represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.44% of the stock is currently owned by insiders.

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.