KB Home (NYSE:KBH) Shares Sold by Empirical Finance LLC

Empirical Finance LLC cut its stake in shares of KB Home (NYSE:KBH) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,987 shares of the construction company’s stock after selling 1,409 shares during the period. Empirical Finance LLC’s holdings in KB Home were worth $1,333,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KBH. Jacobs Levy Equity Management Inc. lifted its stake in KB Home by 2.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after buying an additional 18,981 shares in the last quarter. Bank of New York Mellon Corp grew its position in KB Home by 0.5% during 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 in the last quarter. Wedge Capital Management L L P NC raised its stake in KB Home by 2,728.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock valued at $45,567,000 after purchasing an additional 620,144 shares during the period. Norges Bank purchased a new stake in shares of KB Home in the fourth quarter valued at $36,761,000. Finally, Principal Financial Group Inc. boosted its position in shares of KB Home by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company’s stock worth $19,993,000 after buying an additional 3,983 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Trading Up 0.3 %

NYSE KBH opened at $83.71 on Friday. KB Home has a 1 year low of $42.11 and a 1 year high of $88.31. The company has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $70.98. The company has a market cap of $6.30 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.84 and a beta of 1.80.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. Equities research analysts forecast that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. KB Home’s payout ratio is 13.23%.

Analysts Set New Price Targets

KBH has been the subject of several research analyst reports. Zelman & Associates reissued an “underperform” rating and issued a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. Royal Bank of Canada boosted their price objective on shares of KB Home from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Thursday, June 20th. Keefe, Bruyette & Woods lifted their target price on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Evercore ISI upped their price target 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. Finally, Wedbush lifted their price objective on KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.88.

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.