Hennessy Advisors Inc. Lowers Position in KB Home $KBH

Hennessy Advisors Inc. trimmed its holdings in KB Home (NYSE:KBH) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 550,700 shares of the construction company’s stock after selling 60,800 shares during the period. Hennessy Advisors Inc. owned about 0.81% of KB Home worth $29,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock worth $35,000 after purchasing an additional 258 shares during the last quarter. Sachetta LLC grew its stake in shares of KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company’s stock valued at $40,000 after buying an additional 660 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of KB Home during the first quarter valued at approximately $40,000. Byrne Asset Management LLC boosted its holdings in shares of KB Home by 51.8% in the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock valued at $45,000 after purchasing an additional 264 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in shares of KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock valued at $56,000 after purchasing an additional 221 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America boosted their price target on KB Home from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Oppenheimer started coverage on KB Home in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a research note on Saturday, September 27th. JPMorgan Chase & Co. dropped their target price on KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Finally, Barclays set a $49.00 target price on KB Home and gave the company an “equal weight” rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and a consensus price target of $65.55.

Insiders Place Their Bets

In related news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.89% of the company’s stock.

KB Home Trading Up 1.6%

Shares of KB Home stock opened at $65.75 on Friday. The company has a current ratio of 2.13, a quick ratio of 0.23 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $62.64 and its 200 day moving average price is $57.09. KB Home has a twelve month low of $48.90 and a twelve month high of $85.92. The firm has a market capitalization of $4.47 billion, a PE ratio of 8.71, a P/E/G ratio of 5.28 and a beta of 1.40.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $2.04 EPS. The business’s revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, August 7th. KB Home’s dividend payout ratio (DPR) is 13.25%.

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.