KB Home (NYSE:KBH) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of KB Home (NYSE:KBHFree Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,601 shares of the construction company’s stock after selling 310 shares during the period. PNC Financial Services Group Inc.’s holdings in KB Home were worth $537,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in KB Home by 93.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after purchasing an additional 1,223,612 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of KB Home by 225.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock valued at $41,435,000 after buying an additional 620,238 shares in the last quarter. Norges Bank acquired a new position in KB Home during the fourth quarter valued at $36,761,000. Skandinaviska Enskilda Banken AB publ lifted its stake in KB Home by 246.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 501,100 shares of the construction company’s stock worth $23,191,000 after acquiring an additional 356,600 shares in the last quarter. Finally, Invesco Ltd. boosted its position in KB Home by 26.1% during the 3rd quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock worth $71,590,000 after acquiring an additional 320,554 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 1.0 %

Shares of KBH opened at $70.60 on Monday. The company’s fifty day moving average is $67.76 and its 200-day moving average is $63.49. KB Home has a 12 month low of $42.11 and a 12 month high of $74.65. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.80 and a beta of 1.74.

KB Home (NYSE:KBHGet Free Report) last posted its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business posted $1.45 EPS. KB Home’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that KB Home will post 8.01 earnings per share for the current fiscal year.

KB Home Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This is a positive change from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. KB Home’s dividend payout ratio (DPR) is presently 13.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KBH. Wells Fargo & Company upped their target price on KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Zelman & Associates reiterated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a research report on Monday, May 13th. StockNews.com cut shares of KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Wedbush increased their price objective on KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group boosted their target price on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.30.

Get Our Latest Stock Analysis on KBH

Insider Activity at KB Home

In related news, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total value of $275,858.72. Following the transaction, the director now directly owns 48,217 shares in the company, valued at approximately $3,398,334.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the sale, the executive vice president now directly owns 135,512 shares in the company, valued at approximately $9,500,746.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now owns 48,217 shares in the company, valued at $3,398,334.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,460 shares of company stock worth $4,384,468. 4.44% of the stock is owned by insiders.

KB Home Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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