Raymond James Financial Inc. Reduces Stock Holdings in KB Home $KBH

Key Points

• Raymond James Financial Inc. has reduced its holdings in KB Home by 8.1% during the first quarter, now owning 171,862 shares valued at approximately $9.99 million.
• KB Home recently reported an EPS of $1.50 for its latest quarter, exceeding analyst expectations of $1.45, though revenue declined by 10.5% year-over-year.
• Major investment firms have varied outlooks on KB Home, with target prices ranging from $49 to $86, reflecting skepticism as well as interest in the stock's potential.

Raymond James Financial Inc. reduced its holdings in KB Home (NYSE:KBH - Free Report) by 8.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,862 shares of the construction company's stock after selling 15,119 shares during the period. Raymond James Financial Inc. owned approximately 0.24% of KB Home worth $9,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of KB Home by 0.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,019 shares of the construction company's stock worth $2,433,000 after buying an additional 206 shares in the last quarter. CWM LLC boosted its stake in shares of KB Home by 11.8% during the 1st quarter. CWM LLC now owns 2,007 shares of the construction company's stock worth $117,000 after purchasing an additional 212 shares during the period. Vista Investment Management boosted its stake in shares of KB Home by 4.4% during the 4th quarter. Vista Investment Management now owns 5,097 shares of the construction company's stock worth $335,000 after purchasing an additional 215 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of KB Home by 1.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,854 shares of the construction company's stock worth $729,000 after purchasing an additional 221 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in shares of KB Home by 30.1% during the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after purchasing an additional 221 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America dropped their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods dropped their price target on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Thursday, June 26th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. UBS Group decreased their price objective on shares of KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Finally, Oppenheimer started coverage on shares of KB Home in a report on Wednesday. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $66.86.

Insiders Place Their Bets

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the business'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 transaction of $749,280.00. Following the sale, the chief operating officer owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.89% of the company's stock.

KB Home Stock Up 3.2%

Shares of NYSE KBH traded up $2.03 during trading hours on Thursday, hitting $65.77. 428,786 shares of the stock were exchanged, compared to its average volume of 1,466,791. 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 company has a market cap of $4.48 billion, a PE ratio of 8.71, a PEG ratio of 5.11 and a beta of 1.36. The firm has a fifty day moving average price of $58.30 and a 200-day moving average price of $56.65. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.45 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. KB Home's revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 EPS. On average, sell-side analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. KB Home's payout ratio 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.