Wedge Capital Management L L P NC Cuts Stake in KB Home (NYSE:KBH)

Wedge Capital Management L L P NC cut its position in KB Home (NYSE:KBH) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 606,391 shares of the construction company’s stock after selling 6,705 shares during the period. KB Home makes up about 0.9% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 29th largest holding. Wedge Capital Management L L P NC owned about 0.81% of KB Home worth $51,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KBH. LSV Asset Management boosted its holdings in shares of KB Home by 118.4% during the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after acquiring an additional 572,800 shares during the last quarter. Swedbank AB bought a new position in KB Home in the first quarter valued at about $13,047,000. WINTON GROUP Ltd boosted its position in KB Home by 754.7% in the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after purchasing an additional 182,595 shares during the last quarter. American Century Companies Inc. boosted its position in KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after purchasing an additional 147,326 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of KB Home by 190.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock valued at $7,348,000 after purchasing an additional 68,697 shares during the period. Institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on KBH shares. Bank of America boosted their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a research note on Thursday, September 5th. Keefe, Bruyette & Woods increased their price objective on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $80.00 to $83.00 in a research note on Monday, October 7th. Finally, Wedbush increased their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

KB Home Trading Up 0.2 %

KBH traded up $0.14 during trading hours on Monday, hitting $79.86. 261,904 shares of the company’s stock were exchanged, compared to its average volume of 1,244,516. KB Home has a 12-month low of $42.11 and a 12-month high of $89.70. The firm has a market cap of $6.01 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.81. The firm has a 50 day moving average of $82.44 and a 200 day moving average of $74.65.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that KB Home will post 8.41 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. KB Home’s dividend payout ratio is presently 13.23%.

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.