Swedbank AB Cuts Position in KB Home (NYSE:KBH)

Swedbank AB lessened its stake in shares of KB Home (NYSE:KBH - Free Report) by 19.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,715 shares of the construction company's stock after selling 32,988 shares during the quarter. Swedbank AB owned approximately 0.18% of KB Home worth $11,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in KB Home during the first quarter valued at about $60,000. Plato Investment Management Ltd increased its position in shares of KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company's stock worth $77,000 after purchasing an additional 452 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of KB Home by 625.3% in 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 in the last quarter. Manchester Capital Management LLC grew its stake in KB Home by 134.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company's stock worth $81,000 after buying an additional 652 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in KB Home during the 1st quarter valued at about $120,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 34,473 shares of the company's stock, valued at approximately $2,737,156.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KBH. The Goldman Sachs Group increased their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, September 3rd. Barclays lifted their price objective on shares of KB Home from $78.00 to $99.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Royal Bank of Canada cut KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target for the company. in a research report on Thursday, September 5th. Finally, Keefe, Bruyette & Woods increased their price objective on KB Home from $74.00 to $77.00 and gave the company a "market perform" rating in a report on Thursday, June 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.50.

KB Home Stock Up 1.8 %

Shares of NYSE KBH traded up $1.53 during midday trading on Friday, hitting $85.26. The stock had a trading volume of 938,303 shares, compared to its average volume of 1,244,518. The stock has a 50 day simple moving average of $82.77 and a 200-day simple moving average of $74.94. The company has a market capitalization of $6.41 billion, a PE ratio of 11.25, a P/E/G ratio of 0.69 and a beta of 1.81. KB Home has a 1 year low of $42.11 and a 1 year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last announced 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 net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the business posted $1.80 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that KB Home will post 8.41 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. KB Home's 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.