Franklin Resources Inc. Sells 14,561 Shares of KB Home $KBH

Franklin Resources Inc. reduced its position in shares of KB Home (NYSE:KBH) by 38.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,033 shares of the construction company’s stock after selling 14,561 shares during the period. Franklin Resources Inc.’s holdings in KB Home were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in KB Home by 62.8% during the 1st quarter. Cetera Investment Advisers now owns 38,354 shares of the construction company’s stock worth $2,229,000 after buying an additional 14,798 shares during the period. US Bancorp DE raised its stake in shares of KB Home by 78.2% during the first quarter. US Bancorp DE now owns 22,619 shares of the construction company’s stock valued at $1,315,000 after acquiring an additional 9,928 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of KB Home by 11.0% during the first quarter. Citigroup Inc. now owns 129,573 shares of the construction company’s stock worth $7,531,000 after purchasing an additional 12,844 shares during the period. Entropy Technologies LP lifted its holdings in shares of KB Home by 105.1% during the first quarter. Entropy Technologies LP now owns 19,284 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 9,884 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of KB Home by 90.0% in the first quarter. Virtu Financial LLC now owns 18,043 shares of the construction company’s stock worth $1,049,000 after purchasing an additional 8,546 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Activity

In related news, EVP Albert Z. Praw sold 20,284 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 104,062 shares in the company, valued at $6,252,044.96. The trade was a 16.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by insiders.

KB Home Price Performance

Shares of NYSE:KBH opened at $63.32 on Friday. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 5.22 and a beta of 1.40. The business’s 50-day moving average is $62.00 and its 200-day moving average is $59.21. KB Home has a 1 year low of $48.90 and a 1 year high of $80.36.

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

KB Home Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KBH. Oppenheimer assumed coverage on KB Home in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Evercore ISI set a $65.00 price target on KB Home and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised their price objective on KB Home from $50.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. Finally, UBS Group reissued a “buy” rating and set a $83.00 target price on shares of KB Home in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.36.

About KB Home

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.