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

PNC Financial Services Group Inc. reduced its stake in KB Home (NYSE:KBH) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,384 shares of the construction company’s stock after selling 1,130 shares during the period. PNC Financial Services Group Inc.’s holdings in KB Home were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KBH. Harbor Capital Advisors Inc. boosted its stake in KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock valued at $35,000 after acquiring an additional 258 shares during the period. Sachetta LLC boosted its position in shares of KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after buying an additional 660 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of KB Home during the first quarter worth approximately $40,000. Byrne Asset Management LLC boosted its position in shares of KB Home by 51.8% during the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock worth $45,000 after buying an additional 264 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of KB Home by 1,256.9% during the first quarter. UMB Bank n.a. now owns 977 shares of the construction company’s stock worth $57,000 after buying an additional 905 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Price Performance

NYSE KBH opened at $63.08 on Friday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 8.35, a P/E/G ratio of 5.12 and a beta of 1.34. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The business’s fifty day moving average is $55.33 and its two-hundred day moving average is $56.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83.

KB Home (NYSE:KBH) last announced its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $2.15 EPS. The company’s revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home’s payout ratio is 13.25%.

Insider Transactions at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the sale, the chief operating officer directly owned 78,345 shares of the company’s stock, valued at $4,193,024.40. The trade was a 15.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KBH shares. Barclays set a $49.00 price objective on KB Home and gave the stock an “equal weight” rating in a research report on Tuesday, June 24th. Wells Fargo & Company reiterated an “underweight” rating and set a $52.00 price objective (down from $53.00) on shares of KB Home in a research report on Tuesday, June 24th. Bank of America reduced their price objective on KB Home from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Keefe, Bruyette & Woods dropped their target price on KB Home from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, June 26th. Finally, Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $66.14.

KB Home 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.