KB Home $KBH Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in KB Home (NYSE:KBH) by 29.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 588,489 shares of the construction company’s stock after selling 241,238 shares during the quarter. First Trust Advisors LP’s holdings in KB Home were worth $31,172,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in KB Home in the 2nd quarter valued at approximately $44,000. Ameritas Advisory Services LLC acquired a new position in shares of KB Home during the second quarter worth about $59,000. AlphaQuest LLC purchased a new stake in KB Home during the first quarter worth about $60,000. Hantz Financial Services Inc. increased its holdings in KB Home by 1,125.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,986 shares of the construction company’s stock valued at $105,000 after acquiring an additional 1,824 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of KB Home by 75.9% in the second quarter. Allworth Financial LP now owns 2,380 shares of the construction company’s stock valued at $126,000 after buying an additional 1,027 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Albert Z. Praw sold 20,284 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the completion of the transaction, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This trade represents a 16.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.89% of the stock is owned by corporate insiders.

KB Home Trading Up 4.4%

KBH stock opened at $64.40 on Thursday. KB Home has a 1-year low of $48.90 and a 1-year high of $77.33. The stock has a 50-day moving average price of $61.91 and a 200-day moving average price of $59.50. The firm has a market cap of $4.17 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 5.02 and a beta of 1.40.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. On average, analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, November 13th. KB Home’s dividend payout ratio is currently 13.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer initiated coverage on shares of KB Home in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. JPMorgan Chase & Co. lowered their target price on KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Raymond James Financial increased their price target on shares of KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Finally, UBS Group restated a “buy” rating and issued a $83.00 price objective on shares of KB Home in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.36.

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.