Swedbank AB Sells 32,988 Shares of KB Home (NYSE:KBH)

Swedbank AB reduced its position in KB Home (NYSE:KBH - Free Report) by 19.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 135,715 shares of the construction company's stock after selling 32,988 shares during the period. Swedbank AB owned 0.19% of KB Home worth $11,629,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KBH. American Century Companies Inc. boosted its stake in shares of KB Home by 9.6% in the 2nd 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 boosted its position in shares of KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $77,655,000 after purchasing an additional 164,010 shares during the period. Bank of New York Mellon Corp grew its position in shares of KB Home by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock worth $61,250,000 after buying an additional 3,993 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in KB Home by 10.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company's stock valued at $48,843,000 after purchasing an additional 67,628 shares during the period. Institutional investors and hedge funds own 96.09% of the company's stock.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company's stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KBH. Royal Bank of Canada cut shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Bank of America boosted their target price on KB Home from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. The Goldman Sachs Group raised their price target on KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Barclays upped their price target on shares of KB Home from $78.00 to $99.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Finally, Wedbush boosted their price objective 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. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, KB Home has a consensus rating of "Hold" and an average price target of $77.50.

KB Home Price Performance

KBH stock traded up $0.03 during mid-day trading on Wednesday, reaching $82.71. The company had a trading volume of 262,677 shares, compared to its average volume of 1,210,604. KB Home has a 52 week low of $51.53 and a 52 week high of $89.70. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.73 and a beta of 1.81. The stock has a 50 day simple moving average of $81.54 and a two-hundred day simple moving average of $77.79.

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 for the quarter, missing analysts' consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, equities analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.21%. KB Home's dividend payout ratio (DPR) 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.