Janney Montgomery Scott LLC Has $1.79 Million Holdings in KB Home (NYSE:KBH)

Janney Montgomery Scott LLC cut its position in KB Home (NYSE:KBH) by 17.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,932 shares of the construction company’s stock after selling 4,359 shares during the quarter. Janney Montgomery Scott LLC’s holdings in KB Home were worth $1,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. grew its position in KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after purchasing an additional 147,326 shares during the last quarter. LSV Asset Management grew its position in KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock worth $63,692,000 after purchasing an additional 18,981 shares during the last quarter. Bank of New York Mellon Corp grew its position in KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of KB Home by 10.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company’s stock worth $48,843,000 after acquiring an additional 67,628 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on KBH. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a report on Thursday, September 5th. Barclays raised their price objective on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Wedbush raised their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Finally, 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 report on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

KB Home Trading Down 1.0 %

KBH opened at $78.41 on Thursday. The stock has a market capitalization of $5.75 billion, a PE ratio of 10.18, a PEG ratio of 0.68 and a beta of 1.81. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70. The firm has a 50-day moving average price of $82.07 and a two-hundred day moving average price of $77.00.

KB Home (NYSE:KBH) last posted 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). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 EPS. On average, research analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is 12.82%.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.44% of the company’s stock.

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.