Metis Global Partners LLC Sells 485 Shares of KB Home (NYSE:KBH)

Metis Global Partners LLC lowered its stake in KB Home (NYSE:KBH) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,038 shares of the construction company’s stock after selling 485 shares during the period. Metis Global Partners LLC’s holdings in KB Home were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in shares of KB Home during the 3rd quarter valued at about $32,000. Riggs Asset Managment Co. Inc. bought a new stake in KB Home during the 3rd quarter valued at approximately $43,000. Plato Investment Management Ltd grew its holdings in shares of KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after acquiring an additional 452 shares during the period. Tortoise Investment Management LLC raised its position in shares of KB Home by 625.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of KB Home by 23.4% in the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock valued at $109,000 after purchasing an additional 241 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

KB Home Stock Down 1.6 %

Shares of NYSE KBH opened at $77.26 on Tuesday. The firm’s 50-day moving average price is $82.02 and its 200-day moving average price is $77.27. KB Home has a 52-week low of $51.53 and a 52-week high of $89.70. The company has a market cap of $5.67 billion, a PE ratio of 10.07, a PEG ratio of 0.67 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. As a group, equities research analysts anticipate that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

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.