Vestcor Inc Sells 623 Shares of KB Home (NYSE:KBH)

Vestcor Inc lessened its stake in shares of KB Home (NYSE:KBH) by 4.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,200 shares of the construction company’s stock after selling 623 shares during the period. Vestcor Inc’s holdings in KB Home were worth $1,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KBH. Charles Schwab Investment Management Inc. grew its position in KB Home by 22.1% in the 3rd 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 period. Cetera Investment Advisers acquired a new stake in shares of KB Home in the 1st quarter worth about $1,588,000. Cerity Partners LLC lifted its position in KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after acquiring an additional 7,679 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in KB Home during the 2nd quarter valued at about $479,000. Finally, Citigroup Inc. increased its holdings in KB Home by 62.1% during the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after purchasing an additional 40,992 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Trading Down 3.7 %

KB Home stock opened at $74.31 on Thursday. The business’s 50 day simple moving average is $80.24 and its 200 day simple moving average is $78.41. KB Home has a 12 month low of $54.94 and a 12 month high of $89.70. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.62 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $1.80 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. KB Home’s payout ratio is 12.82%.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.