Bridgewater Associates LP Purchases 1,345 Shares of KB Home (NYSE:KBH)

Bridgewater Associates LP lifted its position in shares of KB Home (NYSE:KBH) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,928 shares of the construction company’s stock after purchasing an additional 1,345 shares during the quarter. Bridgewater Associates LP owned approximately 0.18% of KB Home worth $11,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KBH. Virtu Financial LLC acquired a new stake in KB Home during the first quarter worth $1,078,000. Tidal Investments LLC bought a new stake in KB Home in the first quarter valued at about $1,177,000. Comerica Bank increased its stake in KB Home by 123.0% in the first quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock valued at $5,327,000 after acquiring an additional 41,452 shares during the period. Cetera Investment Advisers acquired a new position in KB Home in the first quarter worth about $1,588,000. Finally, AdvisorShares Investments LLC bought a new position in KB Home during the second quarter worth about $479,000. 96.09% of the stock is currently owned by institutional investors.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.52% of the stock is currently owned by insiders.

KB Home Trading Up 0.2 %

KBH opened at $82.86 on Friday. KB Home has a 1-year low of $51.53 and a 1-year high of $89.70. The firm has a 50-day moving average price of $81.33 and a two-hundred day moving average price of $77.86. The stock has a market capitalization of $6.08 billion, a PE ratio of 10.62, a PEG ratio of 0.73 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share 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 business earned $1.80 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, research analysts predict that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. KB Home’s payout ratio is currently 12.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KBH shares. Barclays upped their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Wells Fargo & Company cut KB Home from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Bank of America boosted their target price on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group increased their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Four equities research 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 company has a consensus rating of “Hold” and a consensus target price of $77.50.

KB Home 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.