Harvest Fund Management Co. Ltd Boosts Position in KB Home (NYSE:KBH)

Harvest Fund Management Co. Ltd increased its holdings in shares of KB Home (NYSE:KBH) by 173.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,319 shares of the construction company’s stock after purchasing an additional 8,446 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in KB Home were worth $1,141,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KBH. Price T Rowe Associates Inc. MD increased its holdings in shares of KB Home by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,439 shares of the construction company’s stock valued at $3,363,000 after purchasing an additional 1,780 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of KB Home by 9.5% in the first quarter. Public Employees Retirement System of Ohio now owns 46,183 shares of the construction company’s stock valued at $3,273,000 after purchasing an additional 4,013 shares during the period. Bayesian Capital Management LP acquired a new position in shares of KB Home in the first quarter valued at approximately $1,063,000. Janus Henderson Group PLC increased its holdings in shares of KB Home by 6.1% in the first quarter. Janus Henderson Group PLC now owns 65,093 shares of the construction company’s stock valued at $4,611,000 after purchasing an additional 3,735 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of KB Home in the first quarter valued at approximately $1,177,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Activity at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction 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 transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.52% of the stock is owned by insiders.

Analysts Set New Price Targets

KBH has been the topic of a number of recent research reports. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $80.00 to $83.00 in a report on Monday, October 7th. Barclays lifted their price target on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Finally, Wedbush lifted their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.50.

KB Home Price Performance

Shares of NYSE:KBH opened at $85.06 on Tuesday. The firm has a market capitalization of $6.24 billion, a PE ratio of 10.91, a P/E/G ratio of 0.68 and a beta of 1.81. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70. The business has a 50-day moving average of $81.62 and a two-hundred day moving average of $77.70.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 EPS. As a group, research analysts anticipate that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio is currently 12.82%.

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.