Harvest Fund Management Co. Ltd Raises Stake in KB Home (NYSE:KBH)

Harvest Fund Management Co. Ltd boosted its position in KB Home (NYSE:KBH) by 173.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,319 shares of the construction company’s stock after buying an additional 8,446 shares during the period. Harvest Fund Management Co. Ltd’s holdings in KB Home were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of KBH. LSV Asset Management boosted its position in KB Home by 118.4% in the second 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 last quarter. Swedbank AB acquired a new position in KB Home in the first quarter valued at approximately $13,047,000. WINTON GROUP Ltd lifted its holdings in KB Home by 754.7% in the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock valued at $14,512,000 after acquiring an additional 182,595 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in KB Home by 22.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after acquiring an additional 164,010 shares during the period. Finally, American Century Companies Inc. lifted its holdings in KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after acquiring an additional 147,326 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

Shares of KBH opened at $85.06 on Tuesday. KB Home has a one year low of $51.53 and a one year high of $89.70. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.68 and a beta of 1.81. The stock has a 50 day moving average price of $81.62 and a 200 day moving average price of $77.70.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS 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 analysts’ expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, analysts predict that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on KBH. Wells Fargo & Company downgraded 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 report on Monday, October 7th. Barclays boosted their price target on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wedbush boosted their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. 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 note on Thursday, September 5th. Finally, The Goldman Sachs Group upped their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.50.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated 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 approximately $2,737,156.20. This represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.52% of the company’s stock.

KB Home 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.