Swedbank AB Sells 32,988 Shares of KB Home (NYSE:KBH)

Swedbank AB lowered its position in shares of KB Home (NYSE:KBH) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,715 shares of the construction company’s stock after selling 32,988 shares during the period. Swedbank AB owned approximately 0.19% of KB Home worth $11,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after buying an additional 572,800 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of KB Home by 754.7% in the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after buying an additional 182,595 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after purchasing an additional 164,010 shares during the period. American Century Companies Inc. grew its position in KB Home by 9.6% during the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after buying an additional 147,326 shares during the period. Finally, Empowered Funds LLC grew its position in shares of KB Home by 201.8% during the 3rd quarter. Empowered Funds LLC now owns 216,645 shares of the construction company’s stock valued at $18,564,000 after acquiring an additional 144,854 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

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 that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.52% of the stock is currently owned by insiders.

KB Home Price Performance

Shares of NYSE KBH opened at $82.69 on Wednesday. The stock has a market capitalization of $6.06 billion, a P/E ratio of 10.60, a PEG ratio of 0.68 and a beta of 1.81. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70. The business’s 50 day moving average is $81.54 and its two-hundred day moving average is $77.79.

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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. KB Home’s dividend payout ratio is presently 12.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KBH shares. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Wedbush lifted their price target on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a research report on Thursday, September 5th. The Goldman Sachs Group increased their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Barclays increased their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.50.

KB Home Company 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.