Forum Financial Management LP Purchases New Position in KB Home (NYSE:KBH)

Forum Financial Management LP acquired a new position in KB Home (NYSE:KBH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,666 shares of the construction company’s stock, valued at approximately $228,000.

A number of other large investors have also added to or reduced their stakes in the company. LSV Asset Management increased its position in KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Swedbank AB bought a new stake in shares of KB Home in the 1st quarter worth about $13,047,000. WINTON GROUP Ltd raised its position in shares of KB Home by 754.7% during the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock valued at $14,512,000 after buying an additional 182,595 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after acquiring an additional 147,326 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in KB Home by 190.8% in the second quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock worth $7,348,000 after acquiring an additional 68,697 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.52% of the company’s stock.

KB Home Stock Up 2.9 %

KBH opened at $82.02 on Wednesday. The stock’s fifty day moving average is $82.28 and its two-hundred day moving average is $76.42. The company has a market capitalization of $6.01 billion, a P/E ratio of 10.52, a PEG ratio of 0.66 and a beta of 1.81. KB Home has a 52 week low of $50.08 and a 52 week high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Equities analysts anticipate that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. KB Home’s dividend payout ratio is presently 12.82%.

Analyst Upgrades and Downgrades

KBH has been the subject of several analyst reports. Bank of America raised their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Evercore ISI boosted their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average price target of $77.50.

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.