Covestor Ltd Sells 635 Shares of KB Home (NYSE:KBH)

Covestor Ltd decreased its stake in shares of KB Home (NYSE:KBH) by 35.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,178 shares of the construction company’s stock after selling 635 shares during the quarter. Covestor Ltd’s holdings in KB Home were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. grew its holdings in KB Home by 139.3% in the first quarter. Edgestream Partners L.P. now owns 11,162 shares of the construction company’s stock worth $791,000 after purchasing an additional 6,497 shares during the period. Acadian Asset Management LLC grew its stake in shares of KB Home by 15,718.8% in the 1st quarter. Acadian Asset Management LLC now owns 63,275 shares of the construction company’s stock valued at $4,481,000 after buying an additional 62,875 shares during the period. Foundry Partners LLC increased its position in KB Home by 17.8% in the 1st quarter. Foundry Partners LLC now owns 103,744 shares of the construction company’s stock valued at $7,353,000 after buying an additional 15,674 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in KB Home by 65.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,917 shares of the construction company’s stock worth $2,475,000 after buying an additional 13,780 shares during the period. Finally, Entropy Technologies LP acquired a new position in KB Home during the 1st quarter worth approximately $640,000. Institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KBH shares. Zelman & Associates restated an “underperform” rating and set a $69.00 price objective on shares of KB Home in a report on Monday, May 13th. Wedbush upped their price objective on shares of KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Evercore ISI lifted their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada upped their target price on shares of KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Thursday, June 20th. Finally, StockNews.com downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, KB Home presently has an average rating of “Hold” and an average target price of $71.88.

KB Home Stock Performance

NYSE:KBH traded down $0.07 during trading on Wednesday, reaching $81.59. The company’s stock had a trading volume of 434,728 shares, compared to its average volume of 1,273,375. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.80. KB Home has a 12 month low of $42.11 and a 12 month high of $83.74. The firm has a 50 day moving average of $71.07 and a 200-day moving average of $66.98.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.37. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. Equities research analysts forecast that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. KB Home’s payout ratio is currently 13.23%.

Insider Buying and Selling

In other KB Home news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the transaction, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the sale, the executive vice president now directly owns 135,512 shares in the company, valued at approximately $9,500,746.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the transaction, the director now owns 48,217 shares of the company’s stock, valued at approximately $3,398,334.16. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by insiders.

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.