Paloma Partners Management Co Buys Shares of 6,822 KB Home (NYSE:KBH)

Paloma Partners Management Co purchased a new position in shares of KB Home (NYSE:KBH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,822 shares of the construction company’s stock, valued at approximately $585,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of KB Home in the 3rd quarter worth about $43,000. Banque Cantonale Vaudoise acquired a new stake in KB Home in the 3rd quarter valued at about $61,000. Quest Partners LLC increased its holdings in KB Home by 101,600.0% during the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its position in 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 acquiring an additional 963 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.52% of the company’s stock.

KB Home Stock Performance

KB Home stock opened at $82.74 on Wednesday. KB Home has a 1 year low of $53.54 and a 1 year high of $89.70. The firm has a 50 day moving average price of $81.05 and a 200 day moving average price of $78.16. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.65 and a beta of 1.81.

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

KB Home Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 research report on Thursday, September 5th. The Goldman Sachs Group raised their price target on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $80.00 to $83.00 in a research note on Monday, October 7th. Barclays boosted their target price on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Bank of America raised their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, KB Home currently has an average rating of “Hold” and a consensus price target 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.