Inspire Investing LLC Sells 34,071 Shares of KB Home $KBH

by · The Cerbat Gem

Inspire Investing LLC lowered its stake in shares of KB Home (NYSE:KBH – Free Report) by 82.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,099 shares of the construction company’s stock after selling 34,071 shares during the period. Inspire Investing LLC’s holdings in KB Home were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in KB Home in the 2nd quarter valued at about $55,329,000. AQR Capital Management LLC boosted its holdings in KB Home by 116.1% in the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock worth $53,957,000 after acquiring an additional 506,415 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in KB Home by 326.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company’s stock valued at $26,514,000 after acquiring an additional 349,298 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of KB Home by 408.6% during the second quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company’s stock valued at $15,930,000 after acquiring an additional 241,608 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of KB Home by 6,329.8% during the second quarter. Edgestream Partners L.P. now owns 241,953 shares of the construction company’s stock valued at $12,816,000 after acquiring an additional 238,190 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

NYSE KBH opened at $56.94 on Wednesday. The company has a fifty day moving average price of $61.54 and a 200-day moving average price of $60.31. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.52 and a beta of 1.40. KB Home has a 1 year low of $48.90 and a 1 year high of $72.64.

KB Home (NYSE:KBH – Get Free Report) last released its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $2.52 earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, November 13th. KB Home’s payout ratio is presently 20.37%.

Insider Activity

In other news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was 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 of the company’s stock, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KBH. Evercore ISI set a $65.00 price target on shares of KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. Bank of America dropped their price objective on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Raymond James Financial cut shares of KB Home from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. Wells Fargo & Company lowered their target price on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Finally, Barclays cut their price target on KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.82.

Read Our Latest Stock Report on KBH

About KB Home

(Free Report)

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

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