Harvest Fund Management Co. Ltd Grows Holdings in KB Home (NYSE:KBH)

Harvest Fund Management Co. Ltd increased its holdings in shares of KB Home (NYSE:KBH - Free Report) by 173.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,319 shares of the construction company's stock after purchasing an additional 8,446 shares during the period. Harvest Fund Management Co. Ltd's holdings in KB Home were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in shares of KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home during the third quarter worth $43,000. Banque Cantonale Vaudoise purchased a new position in shares of KB Home during the third quarter worth $61,000. Plato Investment Management Ltd raised its holdings in shares of KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company's stock worth $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% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company's stock worth $78,000 after purchasing an additional 963 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Price Performance

KBH traded down $2.34 on Tuesday, reaching $82.69. 783,942 shares of the company's stock were exchanged, compared to its average volume of 1,214,775. The stock has a market cap of $6.06 billion, a PE ratio of 10.60, a P/E/G ratio of 0.68 and a beta of 1.81. KB Home has a twelve month low of $51.53 and a twelve month high of $89.70. The stock's fifty day moving average price is $81.54 and its 200-day moving average price is $77.79.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. As a group, research analysts predict that KB Home will post 8.44 earnings per share 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. Investors of record on Thursday, November 14th will be given 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 yield of 1.21%. KB Home's payout ratio is presently 12.82%.

Wall Street Analyst Weigh In

KBH has been the subject of a number of recent analyst reports. Wells Fargo & Company cut shares of KB Home from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Wedbush lifted their price objective 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. Bank of America lifted their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Barclays lifted 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. Finally, Royal Bank of Canada cut shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price objective for the company. in a report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, KB Home presently has a consensus rating of "Hold" and a consensus target price of $77.50.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.52% of the stock is currently owned by company insiders.

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.