KB Home (NYSE:KBH) Stock Position Lifted by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of KB Home (NYSE:KBH) by 28.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,586 shares of the construction company’s stock after purchasing an additional 1,886 shares during the period. M&T Bank Corp’s holdings in KB Home were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KBH. Wealth Enhancement Advisory Services LLC increased its stake in KB Home by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after buying an additional 161 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of KB Home by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 162 shares in the last quarter. CWM LLC increased its stake in shares of KB Home by 10.2% during the third quarter. CWM LLC now owns 1,975 shares of the construction company’s stock valued at $169,000 after acquiring an additional 183 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in KB Home by 3.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock worth $353,000 after purchasing an additional 189 shares in the last quarter. Finally, Jupiter Wealth Management LLC lifted its position in KB Home by 1.2% in the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock worth $1,619,000 after purchasing an additional 225 shares during the period. 96.09% of the stock is currently owned by institutional investors.

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 transaction of $2,183,500.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.44% of the stock is currently owned by insiders.

KB Home Stock Performance

NYSE KBH opened at $71.25 on Tuesday. The firm’s 50 day moving average price is $79.66 and its two-hundred day moving average price is $78.53. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.59 and a beta of 1.81. KB Home has a twelve month low of $58.05 and a twelve month 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 for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. 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 previous year, the firm posted $1.80 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on KBH. JPMorgan Chase & Co. lowered their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research report on Friday. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. The Goldman Sachs Group boosted their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America raised their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.92.

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.