Pathstone Holdings LLC Raises Position in KB Home (NYSE:KBH)

Pathstone Holdings LLC increased its holdings in KB Home (NYSE:KBH) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,528 shares of the construction company’s stock after purchasing an additional 263 shares during the quarter. Pathstone Holdings LLC’s holdings in KB Home were worth $1,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in shares of KB Home during the 3rd quarter valued at about $32,000. Riggs Asset Managment Co. Inc. bought a new stake in KB Home during the third quarter worth about $43,000. Plato Investment Management Ltd lifted its stake in shares of KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after buying an additional 452 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after buying an additional 963 shares in the last quarter. Finally, Quest Partners LLC lifted its stake 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 worth $87,000 after buying an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling 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 completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KBH shares. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a research note on Thursday, September 5th. The Goldman Sachs Group boosted their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Bank of America boosted 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. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Wedbush boosted their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.50.

KB Home Price Performance

KBH opened at $82.86 on Thursday. The firm has a market cap of $6.08 billion, a P/E ratio of 10.62, a PEG ratio of 0.73 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 company has a 50 day simple moving average of $81.47 and a two-hundred day simple moving average of $77.82.

KB Home (NYSE:KBH) last posted its quarterly 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 return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.21%. KB Home’s dividend payout ratio (DPR) is currently 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.