Victory Capital Management Inc. Reduces Stock Position in KB Home (NYSE:KBH)

Victory Capital Management Inc. reduced its position in KB Home (NYSE:KBH - Free Report) by 30.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,557 shares of the construction company's stock after selling 23,072 shares during the quarter. Victory Capital Management Inc. owned 0.07% of KB Home worth $4,589,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KBH. LSV Asset Management raised its holdings in shares of KB Home by 118.4% in the second 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 during the period. Swedbank AB purchased a new stake in KB Home in the first quarter worth $13,047,000. WINTON GROUP Ltd lifted its position in shares of KB Home by 754.7% during the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company's stock worth $14,512,000 after purchasing an additional 182,595 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of 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 purchasing an additional 147,326 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of KB Home by 190.8% in the second quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company's stock worth $7,348,000 after purchasing an additional 68,697 shares during the last quarter. Institutional investors own 96.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KBH. The Goldman Sachs Group upped their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 3rd. 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 report on Monday, October 7th. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada downgraded 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 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, the company currently has a consensus rating of "Hold" and a consensus target price of $77.50.

Insider Buying and Selling at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.44% of the stock is currently owned by company insiders.

KB Home Price Performance

KB Home stock traded up $1.61 during trading hours on Friday, reaching $79.40. The stock had a trading volume of 758,461 shares, compared to its average volume of 989,541. The business's 50 day moving average price is $81.65 and its 200-day moving average price is $77.48. KB Home has a 52 week low of $51.53 and a 52 week high of $89.70. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.66 and a beta of 1.81.

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 (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. KB Home's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, November 14th. KB Home's dividend payout ratio is currently 12.82%.

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.