Creative Planning Purchases 8,710 Shares of KB Home (NYSE:KBH)

Creative Planning increased its stake in shares of KB Home (NYSE:KBH) by 36.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,372 shares of the construction company’s stock after purchasing an additional 8,710 shares during the quarter. Creative Planning’s holdings in KB Home were worth $2,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC purchased a new stake in shares of KB Home during the first quarter valued at $935,000. Hancock Whitney Corp raised its holdings in KB Home by 311.0% in the 1st quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock valued at $1,150,000 after acquiring an additional 12,273 shares during the last quarter. Virtu Financial LLC acquired a new stake in KB Home in the 1st quarter valued at about $1,078,000. Entropy Technologies LP purchased a new stake in shares of KB Home in the 1st quarter valued at approximately $640,000. Finally, SG Americas Securities LLC grew its stake in shares of KB Home by 1,333.9% in the 1st quarter. SG Americas Securities LLC now owns 42,342 shares of the construction company’s stock valued at $3,001,000 after buying an additional 39,389 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KBH shares. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America raised their price objective on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Evercore ISI lifted their target price on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Finally, Barclays lifted their target price on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” 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 five have given a buy rating to the company. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average target price of $77.50.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.44% of the stock is currently owned by corporate insiders.

KB Home Stock Performance

KB Home stock opened at $78.05 on Friday. KB Home has a 1 year low of $42.27 and a 1 year high of $89.70. The firm has a 50 day moving average price of $82.78 and a 200 day moving average price of $75.44. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.67 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 earnings per share. Sell-side analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 1.28%. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

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.