KB Home $KBH Shares Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. has reduced its stake in KB Home by 3.2%, now holding approximately 0.19% of the company valued at $7.39 million.
• Insider trading activity includes COO Robert V. Mcgibney selling 14,000 shares for approximately $749,280, resulting in a 15.16% decrease in ownership.
• KB Home reported $1.50 earnings per share for the last quarter, surpassing analysts' expectations and showing a decline of 10.5% in year-over-year revenue.

Salem Investment Counselors Inc. cut its holdings in shares of KB Home (NYSE:KBH - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,495 shares of the construction company's stock after selling 4,630 shares during the period. Salem Investment Counselors Inc. owned about 0.19% of KB Home worth $7,389,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. Sachetta LLC grew its stake in shares of KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after acquiring an additional 660 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home during the first quarter valued at about $40,000. Byrne Asset Management LLC grew its stake in shares of KB Home by 51.8% during the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after acquiring an additional 264 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of KB Home by 30.1% during the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the sale, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.89% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KBH. Barclays set a $49.00 target price on KB Home and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. Zacks Research raised shares of KB Home from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group reduced their price target on shares of KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Bank of America reduced their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, Oppenheimer assumed coverage on shares of KB Home in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $66.86.

KB Home Stock Performance

Shares of NYSE KBH opened at $65.95 on Friday. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average price is $60.09 and its two-hundred day moving average price is $56.80. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The stock has a market capitalization of $4.49 billion, a P/E ratio of 8.74, a P/E/G ratio of 5.48 and a beta of 1.36.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter last year, the company posted $2.15 earnings per share. KB Home's revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. KB Home's dividend payout ratio (DPR) is currently 13.25%.

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.

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