KB Home (NYSE:KBH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of KB Home (NYSE:KBH) by 30.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,557 shares of the construction company’s stock after selling 23,072 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of KB Home worth $4,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KBH. Financial Management Professionals Inc. acquired a new stake in KB Home in the 3rd quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of KB Home in the 3rd quarter valued at $43,000. Plato Investment Management Ltd lifted its stake in KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after acquiring an additional 452 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in KB Home by 625.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares in the last quarter. Finally, Blue Trust Inc. grew its position in KB Home by 23.4% in the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock valued at $109,000 after acquiring an additional 241 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KBH has been the topic of several research reports. Wedbush increased their price target 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. The Goldman Sachs Group increased their target price 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. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a research note on Thursday, September 5th. Barclays upped their price objective on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Bank of America lifted their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.50.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’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 in the company, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.44% of the stock is owned by company insiders.

KB Home Price Performance

NYSE KBH opened at $79.38 on Friday. The firm’s fifty day moving average price is $81.78 and its 200 day moving average price is $77.42. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.66 and a beta of 1.81. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last posted its 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $1.80 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio 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.