Fisher Asset Management LLC Acquires 73,051 Shares of KB Home (NYSE:KBH)

Fisher Asset Management LLC increased its holdings in shares of KB Home (NYSE:KBH - Free Report) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206,172 shares of the construction company's stock after purchasing an additional 73,051 shares during the period. Fisher Asset Management LLC owned approximately 3.01% of KB Home worth $189,047,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KBH. Financial Management Professionals Inc. acquired a new position in shares of KB Home during the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home during the 3rd quarter worth approximately $43,000. Banque Cantonale Vaudoise bought a new position in shares of KB Home during the 3rd quarter worth approximately $61,000. Plato Investment Management Ltd raised its holdings in shares of KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company's stock valued at $77,000 after purchasing an additional 452 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company's stock valued at $78,000 after purchasing an additional 963 shares during the last quarter. Institutional investors own 96.09% of the company's stock.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company's stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.52% of the stock is owned by company insiders.

KB Home Stock Down 2.8 %

Shares of KBH traded down $2.34 during trading hours on Tuesday, hitting $82.69. The company had a trading volume of 783,942 shares, compared to its average volume of 1,214,775. The business has a fifty day moving average of $81.62 and a 200-day moving average of $77.70. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.68 and a beta of 1.81. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

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. 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 payout ratio is 12.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KBH. Barclays raised their target price on shares of KB Home from $78.00 to $99.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Wells Fargo & Company cut KB Home from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada cut KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a research note on Thursday, September 5th. 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.50.

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.