QRG Capital Management Inc. Buys 2,148 Shares of KB Home (NYSE:KBH)

QRG Capital Management Inc. grew its stake in shares of KB Home (NYSE:KBH) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,424 shares of the construction company’s stock after purchasing an additional 2,148 shares during the quarter. QRG Capital Management Inc.’s holdings in KB Home were worth $2,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. bought a new position in shares of KB Home in the 3rd quarter valued at about $43,000. Plato Investment Management Ltd increased its stake in shares of 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 purchasing an additional 452 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of 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 purchasing an additional 963 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of KB Home by 134.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after purchasing an additional 652 shares during the period. Institutional investors own 96.09% of the company’s stock.

Insider Activity

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 transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.52% of the company’s stock.

KB Home Trading Down 2.6 %

Shares of KBH stock opened at $79.90 on Thursday. The stock has a market cap of $5.86 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81. KB Home has a 1 year low of $50.08 and a 1 year high of $89.70. The stock has a 50 day simple moving average of $82.22 and a 200 day simple moving average of $76.45.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is currently 12.82%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company cut KB Home from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research note on Thursday, September 5th. Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Evercore ISI lifted their price objective on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.50.

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.