Envestnet Asset Management Inc. Reduces Position in KB Home $KBH

Envestnet Asset Management Inc. reduced its holdings in KB Home by 47.6% in Q2, owning 5,025 shares worth $266,000. Other institutional investors also adjusted their positions in KB Home. Analysts have mixed ratings on KB Home, with a consensus rating of 'Hold' and an average price target of $64.36. KB Home reported Q3 earnings of $1.61 per share, beating estimates, with revenue of $1.62 billion. The company announced a quarterly dividend of $0.25 per share, paid on November 26th.

Envestnet Asset Management Inc. decreased its holdings in KB Home (NYSE:KBH - Free Report) by 47.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,025 shares of the construction company's stock after selling 4,562 shares during the period. Envestnet Asset Management Inc.'s holdings in KB Home were worth $266,000 at the end of the most recent quarter.

Homebuilding Headwinds Putting These 3 Stocks Under Pressure

A number of other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of KB Home by 116.1% in the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock valued at $53,957,000 after purchasing an additional 506,415 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock valued at $26,514,000 after buying an additional 349,298 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in KB Home by 408.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company's stock valued at $15,930,000 after buying an additional 241,608 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of KB Home by 511.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 196,800 shares of the construction company's stock worth $10,424,000 after acquiring an additional 164,600 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of KB Home by 83.5% during the 1st quarter. Great Lakes Advisors LLC now owns 186,496 shares of the construction company's stock worth $10,839,000 after acquiring an additional 84,875 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KBH. UBS Group reissued a "buy" rating and issued a $83.00 price objective on shares of KB Home in a report on Thursday, September 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of KB Home in a research note on Wednesday, October 8th. Zacks Research raised shares of KB Home from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Bank of America decreased their price objective on KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, October 10th. Finally, Royal Bank Of Canada increased their price objective on KB Home from $58.00 to $59.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $64.36.

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View Our Latest Report on KBH

KB Home Stock Performance

KB Home stock opened at $64.81 on Friday. The company's 50 day simple moving average is $61.81 and its 200-day simple moving average is $58.82. KB Home has a 1 year low of $48.90 and a 1 year high of $84.38. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 5.17 and a beta of 1.36.

KB Home Slips After Earnings: What’s Next for Homebuilders?

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home's payout ratio is presently 13.25%.

Insider Buying and Selling at KB Home

In related news, EVP Albert Z. Praw sold 20,284 shares of the business's stock in a transaction 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 sale, the executive vice president owned 104,062 shares in the company, valued at approximately $6,252,044.96. The trade was a 16.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.89% of the company's stock.

About KB Home

(Free Report)

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.

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