Salem Investment Counselors Inc. Sells 4,500 Shares of KB Home (NYSE:KBH)

Salem Investment Counselors Inc. reduced its position in KB Home (NYSE:KBH) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,435 shares of the construction company’s stock after selling 4,500 shares during the period. Salem Investment Counselors Inc.’s holdings in KB Home were worth $9,624,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in shares of KB Home in the 3rd quarter valued at about $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home in the 3rd quarter valued at approximately $43,000. Versant Capital Management Inc raised its position in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of KB Home in the 3rd quarter valued at approximately $59,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of KB Home in the 3rd quarter valued at approximately $61,000. 96.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $99.00 to $85.00 in a research report on Wednesday, December 11th. Bank of America raised their price target 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, KB Home currently has an average rating of “Hold” and a consensus price target of $79.25.

KB Home Stock Up 0.5 %

Shares of NYSE:KBH traded up $0.32 during trading on Monday, hitting $63.51. 716,846 shares of the stock traded hands, compared to its average volume of 1,036,965. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 8.14, a P/E/G ratio of 0.57 and a beta of 1.86. The company has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $78.05. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70.

About KB Home

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.