Citizens Financial Group Inc. RI Purchases New Stake in KB Home (NYSE:KBH)

Citizens Financial Group Inc. RI purchased a new stake in shares of KB Home (NYSE:KBH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,545 shares of the construction company’s stock, valued at approximately $218,000.

Several other institutional investors have also recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in shares of KB Home during the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new stake in KB Home during the 3rd quarter worth approximately $43,000. Banque Cantonale Vaudoise purchased a new stake in shares of KB Home in the third quarter worth approximately $61,000. Quest Partners LLC lifted its holdings in shares of KB Home by 101,600.0% in the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after buying an additional 452 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KBH shares. Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Barclays boosted their target price on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.44% of the stock is currently owned by corporate insiders.

KB Home Trading Up 2.1 %

Shares of NYSE KBH opened at $79.40 on Friday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.66 and a beta of 1.81. The stock has a fifty day simple moving average of $81.65 and a two-hundred day simple moving average of $77.48. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.80 EPS. Analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is currently 12.82%.

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.