Fmr LLC Has $463.69 Million Stock Position in KB Home (NYSE:KBH)

Fmr LLC increased its position in shares of KB Home (NYSE:KBH) by 47.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,411,255 shares of the construction company’s stock after purchasing an additional 1,752,498 shares during the period. Fmr LLC owned about 7.38% of KB Home worth $463,690,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KBH. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the 3rd quarter valued at $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home in the third quarter worth about $43,000. Banque Cantonale Vaudoise bought a new position in KB Home during the third quarter worth about $61,000. Tortoise Investment Management LLC boosted its holdings in KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after purchasing an additional 1,016 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value 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 represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.44% of the stock is currently owned by company insiders.

KB Home Stock Performance

NYSE KBH opened at $82.79 on Friday. KB Home has a 52 week low of $51.53 and a 52 week high of $89.70. The stock has a market capitalization of $6.07 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81. The stock has a fifty day moving average of $81.24 and a 200-day moving average of $77.95.

KB Home (NYSE:KBH) last announced its quarterly earnings data 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). The firm had revenue of $1.75 billion for 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 business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. Equities research analysts forecast that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Announces Dividend

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