Prudential Financial Inc. boosted its position in KB Home (NYSE:KBH) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 693,448 shares of the construction company’s stock after purchasing an additional 6,570 shares during the quarter. Prudential Financial Inc. owned about 0.80% of KB Home worth $16,726,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in KBH. Russell Investments Group Ltd. increased its stake in shares of KB Home by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 93,500 shares of the construction company’s stock valued at $2,241,000 after acquiring an additional 13,600 shares during the last quarter. Renaissance Group LLC acquired a new position in shares of KB Home during the 2nd quarter valued at about $405,000. Geneva Advisors LLC acquired a new position in shares of KB Home during the 2nd quarter valued at about $722,000. Chicago Equity Partners LLC increased its stake in shares of KB Home by 106.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 192,155 shares of the construction company’s stock valued at $4,606,000 after acquiring an additional 99,015 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of KB Home by 2.6% during the 2nd quarter. CIBC World Markets Inc. now owns 186,011 shares of the construction company’s stock valued at $4,459,000 after acquiring an additional 4,724 shares during the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.
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A number of research firms have recently commented on KBH. BidaskClub downgraded shares of KB Home from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Mizuho raised shares of KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 price objective for the company in a research note on Friday, September 29th. Zacks Investment Research downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Wedbush downgraded shares of KB Home from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 19th. Finally, UBS AG began coverage on shares of KB Home in a research note on Wednesday, October 25th. They set a “sell” rating and a $24.00 price objective for the company. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $22.44.
KB Home (NYSE:KBH) opened at $28.91 on Friday. The firm has a market capitalization of $2,500.72, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 0.84 and a beta of 1.66. KB Home has a fifty-two week low of $15.03 and a fifty-two week high of $29.00.
KB Home (NYSE:KBH) last released its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. KB Home’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. analysts forecast that KB Home will post 1.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Wednesday, November 1st. KB Home’s dividend payout ratio is presently 7.19%.
In other KB Home news, EVP Brian J. Woram sold 49,529 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $27.11, for a total value of $1,342,731.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Albert Z. Praw sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.85, for a total value of $3,877,500.00. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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