Empowered Funds LLC Buys 144,854 Shares of KB Home (NYSE:KBH)

Empowered Funds LLC lifted its position in KB Home (NYSE:KBH) by 201.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 216,645 shares of the construction company’s stock after purchasing an additional 144,854 shares during the period. Empowered Funds LLC owned about 0.30% of KB Home worth $18,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hancock Whitney Corp raised its position in shares of KB Home by 311.0% in the 1st quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock worth $1,150,000 after acquiring an additional 12,273 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of KB Home during the 1st quarter valued at about $1,078,000. Entropy Technologies LP bought a new position in KB Home in the first quarter worth approximately $640,000. Tidal Investments LLC purchased a new position in KB Home during the first quarter valued at $1,177,000. Finally, Comerica Bank grew its stake in shares of KB Home by 123.0% during the 1st quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock valued at $5,327,000 after acquiring an additional 41,452 shares during the period. 96.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of recent research reports. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group upped 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. Finally, Bank of America lifted their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.44% of the stock is currently owned by company insiders.

KB Home Stock Performance

NYSE:KBH opened at $78.18 on Friday. KB Home has a fifty-two week low of $51.53 and a fifty-two week high of $89.70. The company has a 50 day moving average price of $82.04 and a 200 day moving average price of $77.01. The stock has a market capitalization of $5.73 billion, a P/E ratio of 10.07, a PEG ratio of 0.67 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $1.80 EPS. KB Home’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts forecast that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. KB Home’s dividend payout ratio is presently 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.