NFJ Investment Group LLC Takes Position in KB Home (NYSE:KBH)

NFJ Investment Group LLC acquired a new position in KB Home (NYSE:KBH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,047 shares of the construction company's stock, valued at approximately $1,804,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBH. FMR LLC raised its holdings in KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company's stock valued at $463,690,000 after buying an additional 1,752,498 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company's stock worth $189,047,000 after purchasing an additional 73,051 shares during the last quarter. American Century Companies Inc. lifted its holdings in KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company's stock worth $118,244,000 after purchasing an additional 147,326 shares during the last quarter. LSV Asset Management grew its holdings in KB Home by 118.4% during the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock valued at $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of KB Home in the third quarter valued at approximately $89,899,000. Institutional investors own 96.09% of the company's stock.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.44% of the stock is owned by corporate insiders.

KB Home Stock Performance

Shares of NYSE KBH traded down $1.32 during midday trading on Thursday, reaching $78.37. 1,276,320 shares of the company traded hands, compared to its average volume of 1,203,463. The stock's 50-day simple moving average is $80.87 and its 200-day simple moving average is $78.18. KB Home has a 12 month low of $54.94 and a 12 month high of $89.70. The firm has a market cap of $5.75 billion, a PE ratio of 10.05, a PEG ratio of 0.65 and a beta of 1.81.

KB Home (NYSE:KBH - Get Free Report) last announced 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). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.80 earnings per share. On average, equities research analysts expect that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on KBH shares. Barclays upped their price objective on shares of KB Home from $78.00 to $99.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. The Goldman Sachs Group boosted their price objective on KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada downgraded KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Wedbush increased their price objective on KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Finally, Bank of America boosted their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Four equities 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 data from MarketBeat, KB Home currently has a consensus 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.