2,666 Shares in KB Home (NYSE:KBH) Acquired by Forum Financial Management LP

Forum Financial Management LP purchased a new stake in shares of KB Home (NYSE:KBH) during the third quarter, Holdings Channel.com reports. The firm purchased 2,666 shares of the construction company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the 3rd quarter valued at $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home in the third quarter valued at about $43,000. Fidelis Capital Partners LLC acquired a new position in shares of KB Home in the first quarter valued at about $60,000. Plato Investment Management Ltd raised 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 purchasing an additional 452 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in shares of KB Home by 625.3% during the second 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 period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

KB Home stock opened at $82.02 on Wednesday. The stock has a market capitalization of $6.01 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.66 and a beta of 1.81. The company’s fifty day moving average price is $82.28 and its 200 day moving average price is $76.42. KB Home has a 1 year low of $50.08 and a 1 year high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results 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). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

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 1.22%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

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. 3.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KBH shares. Evercore ISI increased their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Bank of America raised their target price 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. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Finally, Barclays lifted their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and an average target price of $77.50.

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.