Great Lakes Advisors LLC Sells 10,839 Shares of KB Home $KBH

Great Lakes Advisors LLC lessened its holdings in shares of KB Home (NYSE:KBH) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,508 shares of the construction company’s stock after selling 10,839 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.11% of KB Home worth $4,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in KB Home during the 2nd quarter valued at $44,000. Harbor Capital Advisors Inc. boosted its stake in shares of KB Home by 56.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 944 shares of the construction company’s stock valued at $60,000 after purchasing an additional 340 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of KB Home during the second quarter valued at about $59,000. Hantz Financial Services Inc. raised its stake in KB Home by 1,125.9% in the second quarter. Hantz Financial Services Inc. now owns 1,986 shares of the construction company’s stock worth $105,000 after buying an additional 1,824 shares in the last quarter. Finally, Stephens Consulting LLC lifted its holdings in KB Home by 199,900.0% in the third quarter. Stephens Consulting LLC now owns 2,000 shares of the construction company’s stock worth $127,000 after buying an additional 1,999 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares in the company, valued at approximately $6,252,044.96. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KBH shares. UBS Group reduced their target price on KB Home from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Zacks Research cut KB Home from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a research report on Thursday, January 22nd. JPMorgan Chase & Co. dropped their target price on shares of KB Home from $71.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, December 29th. Finally, Raymond James Financial lowered shares of KB Home from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 24th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.73.

KB Home Trading Down 0.4%

NYSE KBH opened at $57.56 on Friday. The stock’s fifty day moving average price is $60.64 and its 200-day moving average price is $61.14. The company has a current ratio of 5.77, a quick ratio of 0.21 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.64 billion, a P/E ratio of 11.72, a P/E/G ratio of 7.62 and a beta of 1.43. KB Home has a 12 month low of $48.90 and a 12 month high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. KB Home’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.52 EPS. As a group, equities analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, February 5th. KB Home’s payout ratio is presently 20.37%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.