First Trust Advisors LP Sells 241,238 Shares of KB Home $KBH

First Trust Advisors LP trimmed its position in KB Home (NYSE:KBH) by 29.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 588,489 shares of the construction company’s stock after selling 241,238 shares during the quarter. First Trust Advisors LP owned about 0.86% of KB Home worth $31,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in KB Home in the 2nd quarter valued at $44,000. Ameritas Advisory Services LLC bought a new stake in KB Home during the 2nd quarter worth about $59,000. AlphaQuest LLC acquired a new stake in shares of KB Home in the first quarter valued at approximately $60,000. Hantz Financial Services Inc. raised its position in shares of KB Home by 1,125.9% during the second quarter. Hantz Financial Services Inc. now owns 1,986 shares of the construction company’s stock worth $105,000 after acquiring an additional 1,824 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in KB Home by 75.9% in the second quarter. Allworth Financial LP now owns 2,380 shares of the construction company’s stock valued at $126,000 after acquiring an additional 1,027 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. UBS Group restated a “buy” rating and issued a $83.00 target price on shares of KB Home in a research note on Thursday, September 25th. Royal Bank Of Canada lifted their target price on KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Finally, Bank of America reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus target price of $64.36.

Insider Buying and Selling at KB Home

In related news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total value of $1,218,662.72. Following the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. This represents a 16.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.89% of the stock is owned by corporate insiders.

KB Home Stock Up 4.4%

NYSE KBH opened at $64.40 on Thursday. KB Home has a 52 week low of $48.90 and a 52 week high of $77.33. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 8.53, a P/E/G ratio of 5.02 and a beta of 1.40. The business has a 50 day moving average price of $61.91 and a 200-day moving average price of $59.50.

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given 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 was Thursday, November 13th. KB Home’s payout ratio is presently 13.25%.

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.