MQS Management LLC Invests $802,000 in KB Home (NYSE:KBH)

MQS Management LLC acquired a new stake in KB Home (NYSE:KBH - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,363 shares of the construction company's stock, valued at approximately $802,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home in the 3rd quarter valued at $43,000. Plato Investment Management Ltd lifted its stake in KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company's stock valued at $77,000 after acquiring an additional 452 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of KB Home by 625.3% during the 2nd 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 period. Finally, Blue Trust Inc. grew its holdings in KB Home by 23.4% during the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company's stock valued at $109,000 after buying an additional 241 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

KB Home Stock Performance

Shares of KB Home stock traded down $0.76 during midday trading on Wednesday, reaching $78.41. 990,047 shares of the company's stock traded hands, compared to its average volume of 1,227,320. The company has a market cap of $5.75 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81. The stock has a 50 day moving average of $82.07 and a 200-day moving average of $77.00. 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 issued 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). The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 earnings per share. On average, equities analysts anticipate that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.28%. KB Home's payout ratio is 12.82%.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 34,473 shares of the company's stock, valued at approximately $2,737,156.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KBH. Wells Fargo & Company lowered KB Home from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Barclays boosted their target price on KB Home from $78.00 to $99.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Wedbush boosted their target price on KB Home from $67.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Royal Bank of Canada downgraded KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 target price for the company. in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group boosted their price objective on KB Home from $72.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, KB Home currently has a consensus rating of "Hold" and a consensus price target 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.