Covestor Ltd Has $54,000 Stake in KB Home (NYSE:KBH)

Covestor Ltd reduced its stake in shares of KB Home (NYSE:KBH) by 42.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 633 shares of the construction company’s stock after selling 462 shares during the quarter. Covestor Ltd’s holdings in KB Home were worth $54,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in KB Home in the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home in the 3rd quarter valued at $43,000. Plato Investment Management Ltd increased its position in shares of KB Home by 72.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after buying an additional 452 shares in the last quarter. Tortoise Investment Management LLC raised its stake in 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 buying an additional 963 shares during the period. Finally, Blue Trust Inc. lifted its holdings in KB Home by 23.4% during the third quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock worth $109,000 after acquiring an additional 241 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KBH has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America raised their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Wedbush increased their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.50.

KB Home Stock Up 0.5 %

NYSE:KBH opened at $78.52 on Friday. KB Home has a twelve month low of $51.53 and a twelve month high of $89.70. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81. The stock’s 50 day moving average price is $82.04 and its two-hundred day moving average price is $77.01.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. As a group, analysts anticipate that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.27%. KB Home’s dividend payout ratio is 12.82%.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated 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 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 can be accessed through this link. Insiders own 4.44% of the company’s stock.

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.