KB Home (NYSE:KBH) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of KB Home (NYSE:KBH) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,938,359 shares of the construction company’s stock after buying an additional 16,593 shares during the period. Geode Capital Management LLC’s holdings in KB Home were worth $166,125,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in shares of KB Home in the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home in the 3rd quarter valued at about $43,000. Banque Cantonale Vaudoise purchased a new position in KB Home in the 3rd quarter worth approximately $61,000. Tortoise Investment Management LLC boosted its holdings in shares of KB Home by 625.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after purchasing an additional 963 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of KB Home by 101,600.0% in the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after purchasing an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.44% of the company’s stock.

KB Home Stock Performance

Shares of KBH stock opened at $71.42 on Monday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70. The company has a 50 day moving average price of $79.83 and a 200 day moving average price of $78.45.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The company 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 was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.80 EPS. 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. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio is currently 12.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wedbush lifted their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America lifted their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $99.00 to $85.00 in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a report on Thursday, September 5th. 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 company currently has an average rating of “Hold” and a consensus target price of $79.92.

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.