Paloma Partners Management Co Purchases New Stake in KB Home (NYSE:KBH)

Paloma Partners Management Co purchased a new position in KB Home (NYSE:KBH - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,822 shares of the construction company's stock, valued at approximately $585,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its position 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 acquiring an additional 1,752,498 shares in the last quarter. Fisher Asset Management LLC grew its holdings in KB Home by 3.4% during the third quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company's stock valued at $189,047,000 after purchasing an additional 73,051 shares during the last quarter. American Century Companies Inc. grew its holdings in KB Home by 9.6% during the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company's stock valued at $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, Charles Schwab Investment Management Inc. grew its holdings in KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company's stock valued at $77,655,000 after purchasing an additional 164,010 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business's 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 sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.52% of the company's stock.

Analyst Ratings Changes

KBH has been the topic of several analyst reports. Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Royal Bank of Canada downgraded shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a research note on Thursday, September 5th. The Goldman Sachs Group raised 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. Wedbush raised their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company downgraded shares of KB Home from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Four 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 company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $77.50.

KB Home Trading Down 3.7 %

Shares of KB Home stock traded down $3.05 during trading on Wednesday, reaching $79.69. The company's stock had a trading volume of 924,677 shares, compared to its average volume of 1,203,140. The stock has a 50-day moving average price of $80.99 and a two-hundred day moving average price of $78.18. KB Home has a one year low of $54.00 and a one year high of $89.70. The stock has a market capitalization of $5.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.81.

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 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 return on equity of 15.69% and a net margin of 9.31%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. As a group, sell-side analysts anticipate that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. KB Home's payout ratio is currently 12.82%.

KB Home 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.