PNC Financial Services Group Inc. Reduces Holdings in KB Home (NYSE:KBH)

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

A number of other large investors have also recently made changes to their positions in the stock. Caxton Associates LP boosted its stake in shares of KB Home by 30.4% during the fourth quarter. Caxton Associates LP now owns 25,570 shares of the construction company’s stock valued at $1,597,000 after purchasing an additional 5,964 shares during the period. Seven Eight Capital LP purchased a new stake in shares of KB Home during the fourth quarter valued at $453,000. Rafferty Asset Management LLC boosted its stake in shares of KB Home by 20.0% during the fourth quarter. Rafferty Asset Management LLC now owns 55,161 shares of the construction company’s stock valued at $3,445,000 after purchasing an additional 9,206 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of KB Home during the fourth quarter valued at $1,346,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of KB Home by 222,900.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,460 shares of the construction company’s stock valued at $279,000,000 after purchasing an additional 4,458 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays lifted their price objective on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Wedbush lifted their price objective on KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Evercore ISI lifted their price objective on KB Home from $78.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Zelman & Associates restated an “underperform” rating and issued a $69.00 price objective on shares of KB Home in a report on Monday, May 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.63.

Check Out Our Latest Analysis on KB Home

Insider Activity

In other news, EVP Albert Z. Praw sold 22,160 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Albert Z. Praw sold 22,160 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,294,522.88. The disclosure for this sale can be found here. Insiders have sold a total of 64,460 shares of company stock worth $4,384,468 over the last 90 days. 4.44% of the stock is currently owned by corporate insiders.

KB Home Stock Performance

Shares of KB Home stock opened at $68.77 on Thursday. KB Home has a one year low of $42.11 and a one year high of $74.65. The company has a market capitalization of $5.22 billion, a PE ratio of 9.10, a P/E/G ratio of 0.71 and a beta of 1.77. The company has a 50-day simple moving average of $68.58 and a two-hundred day simple moving average of $65.35.

KB Home Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. This is an increase from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio is 13.23%.

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.

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

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