Mackenzie Financial Corp Decreases Stake in KB Home (NYSE:KBH)

Mackenzie Financial Corp lessened its holdings in shares of KB Home (NYSE:KBH - Free Report) by 83.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,708 shares of the construction company's stock after selling 75,003 shares during the period. Mackenzie Financial Corp's holdings in KB Home were worth $919,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company's stock valued at $43,000 after purchasing an additional 270 shares in the last quarter. Whittier Trust Co. bought a new stake in KB Home in the 4th quarter valued at approximately $62,000. CI Investments Inc. bought a new stake in KB Home in the 3rd quarter valued at approximately $145,000. Kendall Capital Management bought a new stake in KB Home in the 4th quarter valued at approximately $245,000. Finally, NBC Securities Inc. bought a new stake in KB Home in the 3rd quarter valued at approximately $196,000. Institutional investors own 96.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KBH shares. Royal Bank of Canada boosted their target price on KB Home from $63.00 to $69.00 and gave the company a "sector perform" rating in a research note on Thursday, March 21st. Keefe, Bruyette & Woods boosted their target price on KB Home from $67.00 to $77.00 and gave the company a "market perform" rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on KB Home from $68.50 to $70.50 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. Wedbush boosted their price target on KB Home from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company boosted their price target on KB Home from $65.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.11.

KB Home Stock Up 2.1 %

Shares of KBH stock traded up $1.33 during trading on Friday, reaching $65.60. 716,719 shares of the company's stock were exchanged, compared to its average volume of 1,156,036. The stock has a market capitalization of $4.98 billion, a PE ratio of 8.93, a PEG ratio of 0.73 and a beta of 1.73. KB Home has a twelve month low of $41.33 and a twelve month high of $72.00. The firm's fifty day moving average price is $66.10 and its 200-day moving average price is $59.08.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.19. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. As a group, analysts anticipate that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. This is a positive change from KB Home's previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 8th. KB Home's dividend payout ratio is currently 10.88%.

Insider Buying and Selling at KB Home

In other KB Home news, CAO William R. Hollinger sold 45,471 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company's stock, valued at approximately $6,650,551.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other KB Home news, CAO William R. Hollinger sold 45,471 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company's stock, valued at approximately $6,650,551.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeff Kaminski sold 38,386 shares of the company's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares of the company's stock, valued at $2,294,522.88. The disclosure for this sale can be found here. Insiders have sold a total of 172,629 shares of company stock valued at $10,675,718 in the last ninety days. 4.44% of the stock is currently owned by corporate insiders.

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.