Heritage Wealth Management Inc. Reduces Stock Holdings in KB Home (NYSE:KBH)

Heritage Wealth Management Inc. cut its holdings in KB Home (NYSE:KBH) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,520 shares of the construction company’s stock after selling 200 shares during the period. Heritage Wealth Management Inc.’s holdings in KB Home were worth $730,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in shares of KB Home during the 3rd quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home during the 3rd quarter worth about $43,000. Plato Investment Management Ltd lifted its holdings in KB Home by 72.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after purchasing an additional 452 shares in the last quarter. Tortoise Investment Management LLC grew its stake in KB Home by 625.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in KB Home by 134.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after acquiring an additional 652 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Stock Up 1.9 %

Shares of NYSE KBH traded up $1.49 during trading on Friday, reaching $81.89. 20,763 shares of the stock were exchanged, compared to its average volume of 1,225,922. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81. The business’s 50-day moving average price is $82.16 and its 200 day moving average price is $76.47. KB Home has a twelve month low of $50.08 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last issued its quarterly earnings data 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 EPS. As a group, sell-side analysts expect that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on KBH shares. Wedbush raised their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. 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 report on Thursday, September 19th. Evercore ISI lifted their price target on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a research report on Thursday, September 5th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insiders Place Their Bets

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction 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 sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 4.44% of the stock is owned by company insiders.

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.