KB Home (NYSE:KBH) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its holdings in shares of KB Home (NYSE:KBH) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,198 shares of the construction company’s stock after selling 2,993 shares during the quarter. Martingale Asset Management L P’s holdings in KB Home were worth $1,816,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the 3rd quarter valued at $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home in the third quarter valued at $43,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the 3rd quarter valued at about $61,000. Quest Partners LLC boosted its position in shares of KB Home by 101,600.0% in the 3rd 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 during the period. Finally, Tortoise Investment Management LLC boosted its position in shares of KB Home by 625.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KBH shares. Barclays increased their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Bank of America raised their price objective on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wedbush increased their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.50.

Insider Activity at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’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 completion of the transaction, the chief financial officer now directly 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 document filed with the SEC, which is available at this hyperlink. 4.44% of the stock is currently owned by company insiders.

KB Home Stock Performance

NYSE:KBH opened at $82.74 on Monday. The stock has a fifty day moving average price of $81.24 and a two-hundred day moving average price of $78.02. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.71 and a beta of 1.81. KB Home has a 1 year low of $51.53 and a 1 year high of $89.70.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business posted $1.80 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home’s payout ratio is currently 12.82%.

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.