Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in KB Home (NYSE:KBH)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in KB Home (NYSE:KBH) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,153 shares of the construction company’s stock after selling 188 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KB Home were worth $1,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bridgewater Associates LP grew its position in shares of KB Home by 1.0% in the third quarter. Bridgewater Associates LP now owns 129,928 shares of the construction company’s stock valued at $11,134,000 after purchasing an additional 1,345 shares during the period. Quantbot Technologies LP purchased a new stake in shares of KB Home in the third quarter valued at $300,000. FMR LLC grew its position in shares of KB Home by 47.9% in 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 period. Bank of Montreal Can grew its position in shares of KB Home by 12.2% in the third quarter. Bank of Montreal Can now owns 44,766 shares of the construction company’s stock valued at $3,847,000 after purchasing an additional 4,875 shares during the period. Finally, Hancock Whitney Corp grew its position in shares of KB Home by 1.1% in the third quarter. Hancock Whitney Corp now owns 24,208 shares of the construction company’s stock valued at $2,074,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KBH. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a research report on Thursday, September 5th. Bank of America boosted their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group boosted their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price target on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.50.

KB Home Stock Performance

NYSE:KBH opened at $79.69 on Thursday. KB Home has a one year low of $54.00 and a one year high of $89.70. The business’s 50-day simple moving average is $80.99 and its 200 day simple moving average is $78.18. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly 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). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $1.80 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is 12.82%.

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.