Federated Hermes Inc. Sells 74,873 Shares of KB Home (NYSE:KBH)

Federated Hermes Inc. cut its holdings in KB Home (NYSE:KBH - Free Report) by 50.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,219 shares of the construction company's stock after selling 74,873 shares during the period. Federated Hermes Inc. owned about 0.10% of KB Home worth $5,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of KB Home by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company's stock worth $19,993,000 after purchasing an additional 3,983 shares in the last quarter. Norges Bank bought a new position in shares of KB Home during the fourth quarter valued at approximately $36,761,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of KB Home during the fourth quarter valued at $759,000. Wells Fargo & Company MN grew its position in shares of KB Home by 45.1% during the fourth quarter. Wells Fargo & Company MN now owns 140,728 shares of the construction company's stock worth $8,790,000 after acquiring an additional 43,748 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in KB Home by 8.5% during the 4th quarter. Corient Private Wealth LLC now owns 18,597 shares of the construction company's stock valued at $1,162,000 after purchasing an additional 1,452 shares during the period. Hedge funds and other institutional investors own 96.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KBH shares. Wells Fargo & Company lifted their target price on KB Home from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods upped their target price on KB Home from $74.00 to $77.00 and gave the company a "market perform" rating in a report on Thursday, June 20th. Evercore ISI boosted their price target on shares of KB Home from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Royal Bank of Canada downgraded shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 target price on the stock. in a research note on Thursday, September 5th. Finally, Bank of America increased their price objective on KB Home from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $74.96.

KB Home Stock Up 3.5 %

Shares of NYSE KBH traded up $3.03 during midday trading on Thursday, reaching $89.65. 935,732 shares of the company were exchanged, compared to its average volume of 1,249,878. The stock has a market cap of $6.74 billion, a P/E ratio of 11.86, a PEG ratio of 0.80 and a beta of 1.81. KB Home has a one year low of $42.11 and a one year high of $89.70. The stock's 50-day moving average price is $81.77 and its 200-day moving average price is $72.90.

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

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. KB Home's dividend payout ratio is 13.23%.

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.