Cetera Investment Advisers Sells 4,869 Shares of KB Home $KBH

Cetera Investment Advisers cut its stake in KB Home (NYSE:KBH) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,485 shares of the construction company’s stock after selling 4,869 shares during the quarter. Cetera Investment Advisers’ holdings in KB Home were worth $1,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KBH. Banque Cantonale Vaudoise acquired a new position in KB Home during the first quarter valued at approximately $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of KB Home during the second quarter worth $44,000. Manchester Capital Management LLC grew its holdings in shares of KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock valued at $56,000 after buying an additional 221 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of KB Home in the 2nd quarter valued at $59,000. Finally, AlphaQuest LLC bought a new stake in shares of KB Home in the 1st quarter valued at $60,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

NYSE KBH opened at $64.29 on Monday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 5.17 and a beta of 1.36. The stock’s 50 day moving average price is $61.81 and its two-hundred day moving average price is $58.93. KB Home has a 52 week low of $48.90 and a 52 week high of $84.38.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.11. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the business earned $2.04 EPS. On average, equities research analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, November 13th. KB Home’s payout ratio is presently 13.25%.

Analysts Set New Price Targets

KBH has been the subject of a number of research analyst reports. Bank of America decreased their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Evercore ISI set a $65.00 target price on KB Home and gave the stock an “in-line” rating in a research note on Tuesday, October 7th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Oppenheimer began coverage on shares of KB Home in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, KB Home presently has an average rating of “Hold” and an average target price of $64.36.

Insider Buying and Selling

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. The trade was a 16.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.89% of the stock is owned by company insiders.

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.