Raymond James & Associates Sells 7,686 Shares of KB Home (NYSE:KBH)

Raymond James & Associates decreased its holdings in KB Home (NYSE:KBH – Get Rating) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,227 shares of the construction company’s stock after selling 7,686 shares during the quarter. Raymond James & Associates’ holdings in KB Home were worth $3,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KBH. FMR LLC grew its stake in shares of KB Home by 99.2% in the second quarter. FMR LLC now owns 4,341,247 shares of the construction company’s stock worth $123,552,000 after purchasing an additional 2,161,680 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock worth $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Pictet Asset Management SA bought a new stake in shares of KB Home in the second quarter worth $21,899,000. AQR Capital Management LLC grew its stake in shares of KB Home by 157.1% in the second quarter. AQR Capital Management LLC now owns 669,729 shares of the construction company’s stock worth $18,538,000 after purchasing an additional 409,273 shares during the last quarter. Finally, Varde Management L.P. bought a new stake in shares of KB Home in the second quarter worth $9,104,000. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Albert Z. Praw sold 29,777 shares of the company’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $28.77, for a total value of $856,684.29. Following the sale, the executive vice president now owns 143,363 shares in the company, valued at approximately $4,124,553.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by company insiders.

KB Home Price Performance

KBH opened at $34.80 on Friday. KB Home has a fifty-two week low of $24.78 and a fifty-two week high of $44.03. The firm has a market capitalization of $2.98 billion, a PE ratio of 3.82, a P/E/G ratio of 0.95 and a beta of 1.53. The company’s 50-day moving average is $32.15 and its 200 day moving average is $30.37.

Analysts Set New Price Targets

A number of analysts have commented on KBH shares. Royal Bank of Canada cut shares of KB Home from an “outperform” rating to a “sector perform” rating and set a $34.00 price target on the stock. in a research report on Friday, January 13th. Evercore ISI cut their price target on shares of KB Home from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, September 22nd. TheStreet raised shares of KB Home from a “c+” rating to a “b-” rating in a research report on Wednesday. Wedbush cut their price target on shares of KB Home from $60.00 to $44.00 in a research report on Thursday, September 22nd. Finally, UBS Group cut their price target on shares of KB Home from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and an average target price of $37.46.

KB Home Company Profile

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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.