KB Home $KBH Shares Sold by Vest Financial LLC

Key Points

• Vest Financial LLC reduced its stake in KB Home by 14.4% in the second quarter, selling 4,897 shares and holding 29,005 shares worth approximately $1.54 million.
• KB Home reported earnings of $1.61 per share in its latest quarter, exceeding expectations, despite a 7.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.25 per share, with a yield of 1.6% and a payout ratio of 13.25%, payable on November 26th.

Vest Financial LLC decreased its position in KB Home (NYSE:KBH - Free Report) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,005 shares of the construction company's stock after selling 4,897 shares during the quarter. Vest Financial LLC's holdings in KB Home were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its stake in KB Home by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after purchasing an additional 258 shares during the last quarter. Sachetta LLC raised its stake in KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after purchasing an additional 660 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in KB Home in the 1st quarter valued at about $40,000. Manchester Capital Management LLC raised its stake in KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Finally, Reyes Financial Architecture Inc. raised its stake in KB Home by 35.6% in the 1st quarter. Reyes Financial Architecture Inc. now owns 990 shares of the construction company's stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KBH. Bank of America dropped their price objective on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, October 10th. Wells Fargo & Company upped their price objective on shares of KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, September 2nd. Evercore ISI set a $65.00 price objective on shares of KB Home and gave the company an "in-line" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $63.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, September 29th. Finally, Raymond James Financial upped their price objective on shares of KB Home from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $64.36.

KB Home Stock Performance

Shares of NYSE:KBH opened at $61.31 on Wednesday. KB Home has a 1 year low of $48.90 and a 1 year high of $85.92. The stock has a market capitalization of $3.97 billion, a P/E ratio of 8.12, a PEG ratio of 4.78 and a beta of 1.40. The stock has a 50-day simple moving average of $63.07 and a 200-day simple moving average of $57.08.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The business had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business earned $2.04 EPS. The company's revenue for the quarter was down 7.4% on a year-over-year basis. Analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, November 13th. KB Home's dividend payout ratio is currently 13.25%.

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.

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