KB Home (NYSE:KBH) Shares Sold by Leuthold Group LLC

Leuthold Group LLC cut its stake in shares of KB Home (NYSE:KBH) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,662 shares of the construction company’s stock after selling 2,885 shares during the quarter. Leuthold Group LLC’s holdings in KB Home were worth $5,198,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of KB Home by 19.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,989 shares of the construction company’s stock valued at $1,629,000 after purchasing an additional 3,802 shares during the period. Diversified Trust Co raised its position in KB Home by 6.1% during the 1st quarter. Diversified Trust Co now owns 9,556 shares of the construction company’s stock worth $677,000 after buying an additional 550 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in KB Home by 9.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,097 shares of the construction company’s stock worth $645,000 after buying an additional 804 shares during the last quarter. Van ECK Associates Corp lifted its stake in KB Home by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 27,585 shares of the construction company’s stock valued at $1,955,000 after acquiring an additional 7,378 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of KB Home by 17.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,222 shares of the construction company’s stock valued at $2,851,000 after acquiring an additional 6,063 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Stock Up 1.2 %

KBH opened at $79.00 on Monday. The firm’s fifty day simple moving average is $82.78 and its two-hundred day simple moving average is $75.50. KB Home has a 52-week low of $42.75 and a 52-week high of $89.70. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.67 and a beta of 1.81.

KB Home (NYSE:KBH) last issued 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 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 in the prior year, the business posted $1.80 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio is presently 13.23%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KBH shares. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and raised their target price 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 on the stock. in a research note on Thursday, September 5th. Wedbush raised their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Bank of America boosted their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Evercore ISI raised their price objective on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.44% of the stock is owned by company insiders.

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.