Kesler Norman & Wride LLC Sells 7,948 Shares of KB Home $KBH

Kesler Norman & Wride LLC cut its holdings in KB Home (NYSE:KBH) by 62.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,835 shares of the construction company’s stock after selling 7,948 shares during the period. Kesler Norman & Wride LLC’s holdings in KB Home were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KBH. AQR Capital Management LLC boosted its holdings in KB Home by 116.1% in the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock worth $53,957,000 after buying an additional 506,415 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company’s stock worth $26,514,000 after buying an additional 349,298 shares during the period. Assenagon Asset Management S.A. boosted its holdings in KB Home by 408.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company’s stock valued at $15,930,000 after purchasing an additional 241,608 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in KB Home by 511.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 196,800 shares of the construction company’s stock valued at $10,424,000 after purchasing an additional 164,600 shares during the period. Finally, Great Lakes Advisors LLC boosted its holdings in KB Home by 83.5% in the 1st quarter. Great Lakes Advisors LLC now owns 186,496 shares of the construction company’s stock valued at $10,839,000 after purchasing an additional 84,875 shares during the period. 96.09% of the stock is owned by institutional investors.

KB Home Stock Performance

NYSE KBH opened at $62.51 on Friday. KB Home has a 52-week low of $48.90 and a 52-week high of $85.66. The company has a market capitalization of $4.05 billion, a P/E ratio of 8.28, a P/E/G ratio of 5.17 and a beta of 1.40. The company has a fifty day moving average of $63.36 and a 200-day moving average of $57.85.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) 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 company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm posted $2.04 EPS. The firm’s revenue was down 7.4% compared to the same quarter last year. As a group, analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.6%. KB Home’s payout ratio is currently 13.25%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America cut their price target on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a report on Wednesday, October 8th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Oppenheimer assumed coverage on shares of KB Home in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Finally, Evercore ISI set a $65.00 price target on shares of KB Home and gave the company an “in-line” rating in a report on Tuesday, October 7th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.36.

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.