Hotchkis & Wiley Capital Management LLC Trims Stake in KB Home (NYSE:KBH)

Hotchkis & Wiley Capital Management LLC cut its stake in shares of KB Home (NYSE:KBH - Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,370 shares of the construction company's stock after selling 16,680 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.15% of KB Home worth $9,715,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position 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 worth $77,655,000 after purchasing an additional 164,010 shares in the last quarter. Cetera Investment Advisers bought a new position in KB Home in the first quarter worth approximately $1,588,000. AdvisorShares Investments LLC acquired a new stake in KB Home in the second quarter valued at approximately $479,000. Cerity Partners LLC increased its holdings in shares of KB Home by 24.7% during the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company's stock valued at $3,320,000 after acquiring an additional 7,679 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of KB Home by 62.1% during the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company's stock valued at $9,173,000 after acquiring an additional 40,992 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Price Performance

Shares of KBH traded down $1.32 during mid-day trading on Thursday, hitting $78.37. The stock had a trading volume of 1,276,320 shares, compared to its average volume of 1,203,463. The firm has a market cap of $5.75 billion, a P/E ratio of 10.05, a PEG ratio of 0.65 and a beta of 1.81. KB Home has a 52 week low of $54.94 and a 52 week high of $89.70. The business has a fifty day moving average price of $80.87 and a 200-day moving average price of $78.18.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. KB Home's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. As a group, research analysts expect that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. KB Home's dividend payout ratio is 12.82%.

Insider Buying and Selling at KB Home

In other KB Home 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 value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of KB Home from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $80.00 to $83.00 in a research report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Wedbush raised their price target on shares of KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Royal Bank of Canada lowered 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. Finally, Barclays raised their target price on KB Home from $78.00 to $99.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.50.

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.