KB Home $KBH Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in KB Home (NYSE:KBH) by 62.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 852,089 shares of the construction company’s stock after selling 1,401,209 shares during the period. Fisher Asset Management LLC owned approximately 1.25% of KB Home worth $45,135,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KBH. Edgestream Partners L.P. grew its stake in shares of KB Home by 6,329.8% in the second quarter. Edgestream Partners L.P. now owns 241,953 shares of the construction company’s stock worth $12,816,000 after acquiring an additional 238,190 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in KB Home by 6.2% in the second quarter. New York State Common Retirement Fund now owns 34,275 shares of the construction company’s stock valued at $1,816,000 after purchasing an additional 2,000 shares during the period. Loomis Sayles & Co. L P grew its stake in KB Home by 2.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 180,585 shares of the construction company’s stock worth $9,566,000 after purchasing an additional 4,318 shares in the last quarter. Norges Bank acquired a new position in KB Home during the 2nd quarter worth $55,329,000. Finally, Aristides Capital LLC purchased a new stake in KB Home during the 2nd quarter worth about $240,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KBH shares. JPMorgan Chase & Co. decreased their price objective on KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Wells Fargo & Company boosted their price target on shares of KB Home from $50.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, September 2nd. Bank of America dropped their price objective on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Finally, Raymond James Financial increased their target price on KB Home from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and an average target price of $64.36.

Insider Transactions at KB Home

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

KB Home Trading Up 0.3%

Shares of KB Home stock opened at $64.33 on Wednesday. The company has a fifty day simple moving average of $61.89 and a 200-day simple moving average of $59.07. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 5.17 and a beta of 1.40. KB Home has a 12-month low of $48.90 and a 12-month high of $83.58.

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

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home’s dividend payout ratio is 13.25%.

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.