Bridgewater Associates LP Has $11.13 Million Holdings in KB Home (NYSE:KBH)

Bridgewater Associates LP raised its stake in KB Home (NYSE:KBH) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 129,928 shares of the construction company’s stock after buying an additional 1,345 shares during the period. Bridgewater Associates LP’s holdings in KB Home were worth $11,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of KB Home by 0.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after acquiring an additional 161 shares during the period. Thrivent Financial for Lutherans increased its stake in KB Home by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 162 shares in the last quarter. CWM LLC raised its holdings in KB Home by 10.2% in the third quarter. CWM LLC now owns 1,975 shares of the construction company’s stock worth $169,000 after purchasing an additional 183 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of KB Home by 3.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock worth $353,000 after purchasing an additional 189 shares in the last quarter. Finally, Jupiter Wealth Management LLC boosted its position in shares of KB Home by 1.2% during the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock worth $1,619,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on KBH. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. The Goldman Sachs Group increased their price target on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wedbush lifted their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America boosted their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Barclays raised their target price on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.50.

KB Home Stock Up 0.2 %

NYSE KBH opened at $82.86 on Friday. The firm’s 50 day moving average is $81.33 and its 200-day moving average is $77.86. The company has a market capitalization of $6.08 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.73 and a beta of 1.81. KB Home has a 12-month low of $51.53 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $1.80 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home’s dividend payout ratio is currently 12.82%.

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.