Cerity Partners LLC Acquires 7,679 Shares of KB Home (NYSE:KBH)

Cerity Partners LLC grew its stake in shares of KB Home (NYSE:KBH - Free Report) by 24.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,742 shares of the construction company's stock after acquiring an additional 7,679 shares during the quarter. Cerity Partners LLC owned about 0.05% of KB Home worth $3,320,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in KB Home in the third quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. bought a new position in shares of KB Home during the 3rd quarter valued at $43,000. Banque Cantonale Vaudoise purchased a new position in shares of KB Home in the 3rd quarter worth $61,000. Tortoise Investment Management LLC increased its position in KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company's stock valued at $78,000 after acquiring an additional 963 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in 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 acquiring an additional 1,016 shares during the period. 96.09% of the stock is currently owned by institutional investors.

KB Home Price Performance

Shares of NYSE:KBH traded down $0.12 during trading on Friday, hitting $82.74. 381,439 shares of the company's stock were exchanged, compared to its average volume of 1,208,629. The business's 50-day simple moving average is $81.24 and its 200 day simple moving average is $77.95. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.71 and a beta of 1.81. KB Home has a 52-week low of $51.53 and a 52-week high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.31% and a return on equity of 15.69%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the business earned $1.80 earnings per share. The company's quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. KB Home's dividend payout ratio is currently 12.82%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KBH shares. Royal Bank of Canada downgraded KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target for the company. in a research note on Thursday, September 5th. Wedbush upped their target price 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. Barclays increased their price target on shares of KB Home from $78.00 to $99.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. The Goldman Sachs Group boosted their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company cut KB Home from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $77.50.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm's stock in a transaction dated 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. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.44% of the company's stock.

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.