Covestor Ltd Sells 462 Shares of KB Home (NYSE:KBH)

Covestor Ltd trimmed its holdings in KB Home (NYSE:KBH) by 42.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KBH. The Goldman Sachs Group boosted their price objective on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Barclays lifted their target price 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. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a research report on Thursday, September 5th. Finally, Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.44% of the stock is currently owned by corporate insiders.

KB Home Stock Up 0.5 %

Shares of NYSE KBH opened at $78.52 on Friday. KB Home has a 12-month low of $51.53 and a 12-month high of $89.70. The firm’s 50-day simple moving average is $82.04 and its 200 day simple moving average is $77.01. The company has a market cap 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.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. On average, equities analysts expect that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. KB Home’s dividend payout ratio (DPR) is currently 12.82%.

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.