Virtu Financial LLC Buys 3,931 Shares of KB Home (NYSE:KBH)

Virtu Financial LLC grew its stake in KB Home (NYSE:KBH) by 97.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,960 shares of the construction company’s stock after acquiring an additional 3,931 shares during the quarter. Virtu Financial LLC’s holdings in KB Home were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KBH. FMR LLC grew its holdings in 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 period. State Street Corp boosted its position in shares of KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after purchasing an additional 45,311 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of 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 valued at $189,047,000 after buying an additional 73,051 shares during the period. Geode Capital Management LLC increased its position in shares of KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after buying an additional 16,593 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in KB Home by 9.6% during 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 during the period. 96.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $80.00 to $83.00 in a report on Monday, October 7th. The Goldman Sachs Group increased their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $99.00 to $85.00 in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.92.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were 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 directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.44% of the stock is currently owned by insiders.

KB Home Trading Down 2.9 %

Shares of KBH stock opened at $71.42 on Friday. The firm’s fifty day moving average price is $79.83 and its two-hundred day moving average price is $78.38. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The firm has a market capitalization of $5.24 billion, a P/E ratio of 9.16, a PEG ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $1.80 EPS. KB Home’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio is currently 12.82%.

KB Home Company Profile

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.