BNP Paribas Financial Markets Cuts Holdings in KB Home (NYSE:KBH)

BNP Paribas Financial Markets trimmed its position in KB Home (NYSE:KBH) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,994 shares of the construction company’s stock after selling 1,254 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of KB Home worth $4,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KBH. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the 3rd quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home in the 3rd quarter worth $43,000. Banque Cantonale Vaudoise bought a new stake in shares of KB Home in the 3rd quarter worth about $61,000. Tortoise Investment Management LLC lifted its holdings 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 valued at $78,000 after acquiring an additional 963 shares during the last quarter. Finally, Quest Partners LLC grew its position in KB Home by 101,600.0% in the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after acquiring an additional 1,016 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Barclays raised their target price on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. The Goldman Sachs Group raised their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.50.

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 stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.52% of the company’s stock.

KB Home Trading Down 0.5 %

Shares of KBH opened at $82.74 on Wednesday. KB Home has a 12 month low of $53.54 and a 12 month high of $89.70. The stock has a fifty day moving average price of $81.05 and a 200-day moving average price of $78.16. The firm has a market cap of $6.07 billion, a PE ratio of 10.61, a P/E/G ratio of 0.65 and a beta of 1.81.

KB Home (NYSE:KBH) last released 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). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. KB Home’s dividend payout ratio is currently 12.82%.

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.