Rafferty Asset Management LLC Trims Holdings in KB Home (KBH)

Rafferty Asset Management LLC cut its stake in KB Home (NYSE:KBH) by 14.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,721 shares of the construction company’s stock after selling 3,920 shares during the period. Rafferty Asset Management LLC’s holdings in KB Home were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Affinity Investment Advisors LLC increased its position in shares of KB Home by 57.6% during the 3rd quarter. Affinity Investment Advisors LLC now owns 19,361 shares of the construction company’s stock worth $463,000 after purchasing an additional 7,075 shares in the last quarter. American International Group Inc. increased its position in KB Home by 2.2% in the 3rd quarter. American International Group Inc. now owns 229,413 shares of the construction company’s stock valued at $5,485,000 after acquiring an additional 5,032 shares in the last quarter. BlackRock Inc. increased its position in KB Home by 0.8% in the 3rd quarter. BlackRock Inc. now owns 10,413,684 shares of the construction company’s stock valued at $248,990,000 after acquiring an additional 79,827 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in KB Home in the 3rd quarter valued at about $374,000. Finally, Yorktown Management & Research Co Inc increased its position in KB Home by 44.0% in the 3rd quarter. Yorktown Management & Research Co Inc now owns 12,100 shares of the construction company’s stock valued at $289,000 after acquiring an additional 3,700 shares in the last quarter. 86.42% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP William R. Hollinger sold 79,564 shares of KB Home stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the sale, the senior vice president now owns 234,539 shares in the company, valued at approximately $5,619,554.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Several equities research analysts have weighed in on KBH shares. ValuEngine upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays set a $27.00 price objective on shares of KB Home and gave the company a “hold” rating in a research report on Friday, September 14th. Wedbush restated a “neutral” rating and issued a $29.00 price objective (up previously from $25.00) on shares of KB Home in a research report on Thursday, September 20th. Zacks Investment Research cut shares of KB Home from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, JMP Securities upgraded shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Wednesday, September 26th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.84.

Shares of NYSE:KBH opened at $21.11 on Monday. KB Home has a one year low of $16.82 and a one year high of $38.80. The company has a market cap of $1.87 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.48 and a beta of 1.55.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 25th. The construction company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.51 EPS. KB Home’s revenue was up 7.1% on a year-over-year basis. Research analysts expect that KB Home will post 2.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, November 14th. KB Home’s dividend payout ratio is 5.41%.

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KB Home Profile

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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