Barclays PLC Acquires 38,638 Shares of KB Home (NYSE:KBH)

Barclays PLC lifted its stake in KB Home (NYSE:KBH) by 24.5% during the third quarter, Holdings Channel.com reports. The fund owned 196,229 shares of the construction company’s stock after buying an additional 38,638 shares during the period. Barclays PLC’s holdings in KB Home were worth $16,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of KBH. FMR LLC raised its stake in shares of KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. Holocene Advisors LP acquired a new position in KB Home during the third quarter worth $89,899,000. LSV Asset Management raised its position in KB Home by 118.4% during the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after acquiring an additional 572,800 shares in the last quarter. WINTON GROUP Ltd lifted its stake in KB Home by 754.7% in the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock valued at $14,512,000 after purchasing an additional 182,595 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 164,010 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KBH shares. Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $99.00 to $85.00 in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday. Wedbush increased their price target on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America upped their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group increased 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus price target of $79.92.

KB Home Price Performance

Shares of KBH opened at $71.42 on Friday. KB Home has a one year low of $58.05 and a one year high of $89.70. The company has a market cap of $5.24 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.59 and a beta of 1.81. The firm has a 50 day simple moving average of $79.83 and a two-hundred day simple moving average of $78.38.

KB Home (NYSE:KBH) last issued its 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates 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 was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.80 EPS. On average, analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

Insider Activity

In other KB Home 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 transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.44% of the stock is owned by corporate insiders.

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.