Cerity Partners LLC Boosts Stock Position in KB Home (NYSE:KBH)

Cerity Partners LLC grew its stake in shares of KB Home (NYSE:KBH) by 24.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 38,742 shares of the construction company’s stock after purchasing an additional 7,679 shares during the quarter. Cerity Partners LLC’s holdings in KB Home were worth $3,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after acquiring an additional 147,326 shares in the last quarter. LSV Asset Management boosted its holdings in shares of KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after buying an additional 572,800 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after buying an additional 164,010 shares during the last quarter. Bank of New York Mellon Corp raised its stake in KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after acquiring an additional 3,993 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in KB Home by 10.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company’s stock worth $48,843,000 after acquiring an additional 67,628 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 0.1 %

Shares of NYSE KBH opened at $82.79 on Friday. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.71 and a beta of 1.81. The business has a fifty day simple moving average of $81.24 and a 200-day simple moving average of $77.95.

KB Home (NYSE:KBH) last released its quarterly 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). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

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

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction 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 directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KBH. Barclays boosted their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Wells Fargo & Company downgraded shares of 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 research report on Monday, October 7th. Bank of America raised 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. Finally, 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 note on Thursday, September 5th. Four 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $77.50.

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.