Neo Ivy Capital Management Purchases New Position in KB Home (NYSE:KBH)

Neo Ivy Capital Management purchased a new stake in shares of KB Home (NYSE:KBH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,148 shares of the construction company's stock, valued at approximately $956,000.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in KB Home during the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. bought a new stake in KB Home in the third quarter worth about $43,000. Banque Cantonale Vaudoise purchased a new position in KB Home during the 3rd quarter valued at $61,000. Tortoise Investment Management LLC boosted its stake 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 valued at $78,000 after purchasing an additional 963 shares during the period. Finally, Quest Partners LLC grew its stake in KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company's stock worth $87,000 after acquiring an additional 1,016 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company's stock, 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 this hyperlink. 3.52% of the stock is currently owned by corporate insiders.

KB Home Stock Down 1.0 %

Shares of NYSE KBH traded down $0.78 during midday trading on Thursday, hitting $73.53. The stock had a trading volume of 1,732,302 shares, compared to its average volume of 1,202,893. The stock has a 50 day simple moving average of $80.04 and a 200-day simple moving average of $78.38. KB Home has a 1 year low of $54.94 and a 1 year high of $89.70. The company has a market capitalization of $5.39 billion, a PE ratio of 9.43, a P/E/G ratio of 0.62 and a beta of 1.81.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data 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). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $1.80 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home's dividend payout ratio is presently 12.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada lowered KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Wells Fargo & Company cut shares of KB Home from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Barclays downgraded KB Home from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $99.00 to $85.00 in a research note on Wednesday. The Goldman Sachs Group increased their price objective 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. Finally, Bank of America lifted their price target on KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $78.96.

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.