Nordea Investment Management AB Acquires 6,195 Shares of KB Home (NYSE:KBH)

Nordea Investment Management AB increased its holdings in shares of KB Home (NYSE:KBH) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,056 shares of the construction company’s stock after purchasing an additional 6,195 shares during the period. Nordea Investment Management AB’s holdings in KB Home were worth $10,059,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KBH. Financial Management Professionals Inc. bought a new position in shares of KB Home during the 3rd quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home during the 3rd quarter valued at $43,000. Versant Capital Management Inc boosted its stake in KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in KB Home in the third quarter worth $59,000. Finally, Banque Cantonale Vaudoise bought a new stake in KB Home in the third quarter valued at $61,000. 96.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut 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 report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. UBS Group decreased their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America increased their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, KB Home currently has a consensus rating of “Hold” and an average price target of $80.25.

KB Home Price Performance

KBH opened at $65.23 on Thursday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 0.57 and a beta of 1.86. The firm’s fifty day moving average price is $74.72 and its two-hundred day moving average price is $78.07.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the 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 completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.44% of the stock is 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.