HighTower Advisors LLC Cuts Stock Position in KB Home (NYSE:KBH)

HighTower Advisors LLC decreased its holdings in shares of KB Home (NYSE:KBH) by 32.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,132 shares of the construction company’s stock after selling 3,495 shares during the period. HighTower Advisors LLC’s holdings in KB Home were worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in KBH. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home in the 3rd quarter worth about $43,000. Banque Cantonale Vaudoise purchased a new stake in KB Home during the 3rd quarter worth approximately $61,000. Tortoise Investment Management LLC raised its holdings in shares of KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after acquiring an additional 963 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of KB Home by 101,600.0% in the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after acquiring an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KBH has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on KB Home from $83.00 to $74.00 and set an “underweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Wedbush boosted 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. 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 report on Thursday, September 19th. Finally, The Goldman Sachs Group boosted their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.17.

KB Home Price Performance

Shares of NYSE KBH opened at $65.81 on Friday. The company has a market capitalization of $4.83 billion, a P/E ratio of 8.44, a P/E/G ratio of 0.59 and a beta of 1.81. The company has a 50 day simple moving average of $78.90 and a 200-day simple moving average of $78.36. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is 12.82%.

About KB Home

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.