Donald Smith & CO. Inc. lowered its position in shares of KB Home (NYSE:KBH) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,977,784 shares of the construction company’s stock after selling 661,555 shares during the quarter. KB Home makes up approximately 3.5% of Donald Smith & CO. Inc.’s holdings, making the stock its 8th biggest holding. Donald Smith & CO. Inc. owned approximately 6.91% of KB Home worth $144,184,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Creative Planning increased its position in shares of KB Home by 34.9% during the 2nd quarter. Creative Planning now owns 4,289 shares of the construction company’s stock worth $103,000 after purchasing an additional 1,110 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in shares of KB Home during the 3rd quarter worth about $113,000. LS Investment Advisors LLC increased its position in shares of KB Home by 18.0% during the 2nd quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock worth $156,000 after purchasing an additional 991 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of KB Home by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock worth $199,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of KB Home during the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 96.95% of the company’s stock.
In other news, EVP Brian J. Woram sold 49,529 shares of KB Home stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total transaction of $1,342,731.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Albert Z. Praw sold 150,000 shares of KB Home stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $3,877,500.00. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.
Shares of KB Home (KBH) opened at $30.61 on Friday. KB Home has a 1 year low of $15.51 and a 1 year high of $31.47. The firm has a market cap of $2,605.39, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.71 and a beta of 1.69.
KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $0.42 EPS. KB Home’s revenue was up 24.8% on a year-over-year basis. equities research analysts forecast that KB Home will post 1.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Wednesday, November 1st. KB Home’s dividend payout ratio is 7.19%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of KB Home from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada reiterated a “hold” rating and set a $31.00 target price on shares of KB Home in a research report on Wednesday, November 15th. UBS began coverage on shares of KB Home in a research report on Wednesday, October 25th. They issued a “sell” rating and a $24.00 price objective for the company. Wedbush cut shares of KB Home from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 19th. Finally, MKM Partners restated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of KB Home in a research report on Monday, October 2nd. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.44.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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