KB Home (NYSE:KBH) Stake Lowered by Jacobs Levy Equity Management Inc.

03 Dec 2024, 09:19 by Scott Moore · The Cerbat Gem

Jacobs Levy Equity Management Inc. cut its stake in shares of KB Home (NYSE:KBH – Free Report) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 903,355 shares of the construction company’s stock after selling 22,502 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in KB Home were worth $77,408,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. Fisher Asset Management LLC grew its holdings in KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after buying an additional 73,051 shares in the last quarter. American Century Companies Inc. grew its holdings in KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after buying an additional 147,326 shares in the last quarter. LSV Asset Management grew its holdings in KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after buying an additional 572,800 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in KB Home in the 3rd quarter worth approximately $89,899,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company downgraded 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 report on Monday, October 7th. Bank of America increased their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Barclays increased their target price on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.50.

Read Our Latest Research Report on KBH

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s 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 sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.52% of the company’s stock.

KB Home Trading Up 0.5 %

Shares of NYSE:KBH opened at $83.16 on Tuesday. KB Home has a 1 year low of $53.54 and a 1 year high of $89.70. The business has a fifty day simple moving average of $81.14 and a 200 day simple moving average of $78.10. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.71 and a beta of 1.81.

KB Home (NYSE:KBH – Get Free Report) last posted its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.80 earnings per share. On average, sell-side analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is 12.82%.

KB Home Company Profile

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