Citizens Financial Group Inc. RI Makes New Investment in KB Home (NYSE:KBH)

Citizens Financial Group Inc. RI purchased a new stake in KB Home (NYSE:KBH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,545 shares of the construction company’s stock, valued at approximately $218,000.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in KB Home during the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new position in KB Home in the 3rd quarter valued at approximately $43,000. Banque Cantonale Vaudoise acquired a new stake in KB Home in the third quarter valued at approximately $61,000. Quest Partners LLC grew its stake in shares of KB Home by 101,600.0% during the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after buying an additional 1,016 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in shares of KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Trading Up 2.1 %

Shares of KBH opened at $79.40 on Friday. The firm’s fifty day simple moving average is $81.65 and its two-hundred day simple moving average is $77.48. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70. The stock has a market capitalization of $5.82 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.66 and a beta of 1.81.

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

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. KB Home’s dividend payout ratio is currently 12.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group upped their price objective on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Barclays boosted their target price 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. Finally, Royal Bank of Canada downgraded 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, KB Home has an average rating of “Hold” and an average price target of $77.50.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The shares were 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 directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.44% of the stock is owned by corporate insiders.

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.