Raymond James & Associates Reduces Holdings in KB Home (NYSE:KBH)

Raymond James & Associates reduced its position in shares of KB Home (NYSE:KBH - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,097 shares of the construction company's stock after selling 5,890 shares during the period. Raymond James & Associates owned approximately 0.11% of KB Home worth $5,621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in KBH. International Assets Investment Management LLC bought a new position in KB Home during the 4th quarter worth $733,000. GAMMA Investing LLC bought a new position in KB Home during the 4th quarter worth $47,000. Van ECK Associates Corp increased its stake in KB Home by 32.8% during the 4th quarter. Van ECK Associates Corp now owns 20,207 shares of the construction company's stock worth $1,262,000 after acquiring an additional 4,990 shares during the period. Victory Capital Management Inc. increased its stake in KB Home by 55.2% during the 4th quarter. Victory Capital Management Inc. now owns 70,746 shares of the construction company's stock worth $4,419,000 after acquiring an additional 25,161 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new position in KB Home during the 4th quarter worth $276,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Stock Performance

Shares of KB Home stock traded up $0.28 during trading hours on Thursday, reaching $83.44. The company's stock had a trading volume of 740,331 shares, compared to its average volume of 1,273,902. KB Home has a one year low of $42.11 and a one year high of $88.31. The company has a market capitalization of $6.28 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.84 and a beta of 1.80. The stock's fifty day simple moving average is $77.12 and its two-hundred day simple moving average is $70.75.

KB Home (NYSE:KBH - Get Free Report) last announced its earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.78 by $0.37. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. As a group, research analysts forecast that KB Home will post 8.38 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. KB Home's dividend payout ratio is currently 13.23%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KBH. Royal Bank of Canada raised their price objective on KB Home from $69.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 20th. Keefe, Bruyette & Woods lifted their price target on KB Home from $74.00 to $77.00 and gave the company a "market perform" rating in a research note on Thursday, June 20th. Wedbush lifted their price target on KB Home from $64.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, June 20th. Evercore ISI lifted their price target on KB Home from $86.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. Finally, Zelman & Associates reiterated an "underperform" rating and issued a $69.00 price target on shares of KB Home in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.88.

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.