Fisher Asset Management LLC Buys 73,051 Shares of KB Home (NYSE:KBH)

Fisher Asset Management LLC lifted its stake in KB Home (NYSE:KBH) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,206,172 shares of the construction company’s stock after acquiring an additional 73,051 shares during the period. Fisher Asset Management LLC’s holdings in KB Home were worth $189,047,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hancock Whitney Corp boosted its stake in KB Home by 311.0% during the first quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock valued at $1,150,000 after buying an additional 12,273 shares during the period. Virtu Financial LLC bought a new stake in KB Home during the first quarter valued at $1,078,000. Tidal Investments LLC bought a new stake in KB Home during the first quarter valued at $1,177,000. Comerica Bank boosted its stake in KB Home by 123.0% during the first quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock valued at $5,327,000 after buying an additional 41,452 shares during the period. Finally, Cetera Investment Advisers bought a new stake in KB Home during the first quarter valued at $1,588,000. 96.09% of the stock is owned by institutional investors.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.52% of the company’s stock.

Wall Street Analyst Weigh In

KBH has been the topic of a number of research reports. Barclays raised their price target on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group raised their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wedbush lifted their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

KB Home Stock Performance

KB Home stock opened at $85.06 on Tuesday. The stock’s 50 day simple moving average is $81.62 and its two-hundred day simple moving average is $77.70. KB Home has a fifty-two week low of $51.53 and a fifty-two week high of $89.70. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.68 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 EPS 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts predict that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. KB Home’s dividend payout ratio 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.