Raymond James & Associates Sells 5,890 Shares of KB Home (NYSE:KBH)

Raymond James & Associates trimmed its stake in shares of KB Home (NYSE:KBH) by 6.8% during the second quarter, HoldingsChannel.com reports. The firm owned 80,097 shares of the construction company’s stock after selling 5,890 shares during the quarter. Raymond James & Associates’ holdings in KB Home were worth $5,621,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in shares of KB Home by 2.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after purchasing an additional 18,981 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of KB Home by 2,728.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock valued at $45,567,000 after purchasing an additional 620,144 shares during the period. Norges Bank bought a new position in KB Home in the 4th quarter worth about $36,761,000. Principal Financial Group Inc. increased its stake in KB Home by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company’s stock worth $19,993,000 after acquiring an additional 3,983 shares during the last quarter. Finally, Boston Common Asset Management LLC increased its stake in KB Home by 2.7% in the 2nd quarter. Boston Common Asset Management LLC now owns 229,762 shares of the construction company’s stock worth $16,125,000 after acquiring an additional 6,083 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KBH shares. Evercore ISI upped their target price on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Zelman & Associates restated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a research note on Monday, May 13th. Keefe, Bruyette & Woods upped their target price on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Wedbush upped their price objective on KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada upped their price objective on KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home presently has a consensus rating of “Hold” and an average target price of $71.88.

KB Home Price Performance

Shares of KBH stock opened at $83.16 on Thursday. The stock has a market capitalization of $6.25 billion, a PE ratio of 11.00, a P/E/G ratio of 0.84 and a beta of 1.80. KB Home has a 1-year low of $42.11 and a 1-year high of $88.31. The business has a 50-day moving average of $77.12 and a 200 day moving average of $70.75.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.37. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.64 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. Analysts anticipate that KB Home will post 8.38 EPS for the current year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is presently 13.23%.

About KB Home

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.