Zacks Investment Management Raises Position in KB Home (NYSE:KBH)

Zacks Investment Management increased its holdings in KB Home (NYSE:KBH) by 7.2% in the third quarter, Holdings Channel.com reports. The firm owned 23,252 shares of the construction company’s stock after purchasing an additional 1,564 shares during the period. Zacks Investment Management’s holdings in KB Home were worth $1,992,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after buying an additional 45,311 shares during the period. Systematic Financial Management LP boosted its position in shares of KB Home by 6.4% in the third quarter. Systematic Financial Management LP now owns 469,437 shares of the construction company’s stock worth $40,226,000 after acquiring an additional 28,313 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in shares of KB Home in the third quarter worth approximately $512,000. NFJ Investment Group LLC purchased a new stake in KB Home in the third quarter valued at approximately $1,804,000. Finally, Janus Henderson Group PLC increased its position in KB Home by 23.5% during the third quarter. Janus Henderson Group PLC now owns 69,843 shares of the construction company’s stock worth $5,984,000 after purchasing an additional 13,296 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Stock Up 1.2 %

Shares of KBH opened at $79.51 on Tuesday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.62 and a beta of 1.81. The business’s 50 day moving average is $80.59 and its two-hundred day moving average is $78.39. KB Home has a 52-week low of $54.94 and a 52-week high of $89.70.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 earnings per share. On average, equities analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid 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 1.26%. KB Home’s dividend payout ratio (DPR) is 12.82%.

Analyst Ratings Changes

KBH has been the subject of several research reports. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Bank of America upped 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. Wedbush lifted their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price target on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.13.

Insider Activity 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 stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.52% of the stock is owned by corporate insiders.

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.