State Street Corp Raises Stock Holdings in KB Home (NYSE:KBH)

State Street Corp increased its position in KB Home (NYSE:KBH - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,539,328 shares of the construction company's stock after buying an additional 45,311 shares during the quarter. State Street Corp owned 4.83% of KB Home worth $303,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Systematic Financial Management LP lifted its position in shares of KB Home by 6.4% during the 3rd quarter. Systematic Financial Management LP now owns 469,437 shares of the construction company's stock valued at $40,226,000 after acquiring an additional 28,313 shares during the period. Redwood Investment Management LLC bought a new position in shares of KB Home during the 3rd quarter worth approximately $512,000. NFJ Investment Group LLC purchased a new position in KB Home in the third quarter worth $1,804,000. Janus Henderson Group PLC raised its stake in shares of KB Home by 23.5% during the 3rd quarter. Janus Henderson Group PLC now owns 69,843 shares of the construction company's stock worth $5,984,000 after purchasing an additional 13,296 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of KB Home during the 3rd quarter valued at approximately $89,899,000. Institutional investors own 96.09% of the company's stock.

Insiders Place Their Bets

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 sale, the chief financial officer now directly owns 34,473 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. Company insiders own 3.52% of the company's stock.

KB Home Price Performance

Shares of KBH traded down $2.82 during mid-day trading on Wednesday, reaching $74.38. 845,160 shares of the company's stock traded hands, compared to its average volume of 1,198,079. KB Home has a 12 month low of $54.94 and a 12 month high of $89.70. The stock has a market cap of $5.45 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.62 and a beta of 1.81. The stock's 50-day moving average is $80.59 and its two-hundred day moving average is $78.39.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm'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. Research analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Thursday, November 14th. KB Home's dividend payout ratio (DPR) is presently 12.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KBH shares. Bank of America boosted their price target on shares of KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Barclays lowered shares of KB Home from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $99.00 to $85.00 in a research report on Wednesday. The Goldman Sachs Group upped their target price on KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 3rd. Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company cut shares of KB Home from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $78.96.

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.