Mackenzie Financial Corp Sells 75,003 Shares of KB Home (NYSE:KBH)

Mackenzie Financial Corp cut its position in shares of KB Home (NYSE:KBH) by 83.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,708 shares of the construction company’s stock after selling 75,003 shares during the period. Mackenzie Financial Corp’s holdings in KB Home were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KBH. American Century Companies Inc. grew its position in KB Home by 32.3% in the third quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock valued at $57,927,000 after acquiring an additional 305,820 shares during the period. Trexquant Investment LP grew its position in KB Home by 7.1% in the third quarter. Trexquant Investment LP now owns 181,169 shares of the construction company’s stock valued at $8,385,000 after acquiring an additional 12,048 shares during the period. Ballentine Partners LLC bought a new stake in KB Home in the fourth quarter valued at $416,000. Advisors Preferred LLC grew its position in KB Home by 188.4% in the third quarter. Advisors Preferred LLC now owns 50,820 shares of the construction company’s stock valued at $2,331,000 after acquiring an additional 33,197 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in KB Home by 36.6% in the third quarter. Los Angeles Capital Management LLC now owns 15,619 shares of the construction company’s stock valued at $723,000 after acquiring an additional 4,188 shares during the period. 96.09% of the stock is currently owned by institutional investors.

Insider Transactions at KB Home

In other news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total transaction of $2,749,631.37. Following the sale, the chief accounting officer now owns 109,981 shares of the company’s stock, valued at $6,650,551.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.47, for a total value of $2,749,631.37. Following the completion of the sale, the chief accounting officer now directly owns 109,981 shares in the company, valued at approximately $6,650,551.07. The disclosure for this sale can be found here. Insiders have sold a total of 172,629 shares of company stock valued at $10,675,718 over the last 90 days. 4.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

KBH has been the topic of a number of analyst reports. UBS Group upped their price target on KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. StockNews.com lowered KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Wedbush boosted their price objective on KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.11.

KB Home Trading Down 0.8 %

NYSE:KBH opened at $64.25 on Friday. KB Home has a 1-year low of $40.97 and a 1-year high of $72.00. The business’s 50-day moving average price is $66.10 and its two-hundred day moving average price is $59.08. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.74 and a beta of 1.73.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts predict that KB Home will post 8.01 earnings per share for the current year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is currently 10.88%.

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.