Metis Global Partners LLC Sells 485 Shares of KB Home (NYSE:KBH)

Metis Global Partners LLC decreased its position in shares of KB Home (NYSE:KBH) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,038 shares of the construction company’s stock after selling 485 shares during the period. Metis Global Partners LLC’s holdings in KB Home were worth $432,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. LSV Asset Management raised its position in shares of KB Home by 118.4% during the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after purchasing an additional 572,800 shares during the period. Swedbank AB purchased a new position in shares of KB Home in the first quarter valued at about $13,047,000. WINTON GROUP Ltd lifted its position in shares of KB Home by 754.7% in the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock valued at $14,512,000 after acquiring an additional 182,595 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after acquiring an additional 147,326 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of KB Home by 190.8% during the second quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock worth $7,348,000 after purchasing an additional 68,697 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KBH. Barclays increased their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Bank of America raised their target price on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada cut 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 note on Thursday, September 5th. Wedbush raised their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company cut KB Home from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $80.00 to $83.00 in a report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated 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 directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.44% of the stock is currently owned by insiders.

KB Home Stock Performance

Shares of KBH stock opened at $77.26 on Tuesday. KB Home has a fifty-two week low of $51.53 and a fifty-two week high of $89.70. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.67 and a beta of 1.81. The stock’s 50-day simple moving average is $82.02 and its 200-day simple moving average is $77.27.

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 analysts’ consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, equities analysts forecast that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid 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 yield of 1.29%. KB Home’s dividend payout ratio (DPR) is 12.82%.

KB Home Company 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.