State of New Jersey Common Pension Fund D Has $2.04 Million Stock Position in KB Home (NYSE:KBH)

State of New Jersey Common Pension Fund D increased its position in shares of KB Home (NYSE:KBHGet Rating) by 13.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,757 shares of the construction company’s stock after purchasing an additional 9,176 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in KB Home were worth $2,041,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in KB Home by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 22,758 shares of the construction company’s stock valued at $648,000 after acquiring an additional 362 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in KB Home by 4.0% in the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 9,801 shares of the construction company’s stock valued at $279,000 after acquiring an additional 379 shares in the last quarter. Wedbush Securities Inc. increased its position in KB Home by 3.6% in the 2nd quarter. Wedbush Securities Inc. now owns 12,816 shares of the construction company’s stock valued at $365,000 after acquiring an additional 444 shares in the last quarter. Independent Advisor Alliance increased its position in KB Home by 6.0% in the 2nd quarter. Independent Advisor Alliance now owns 8,571 shares of the construction company’s stock valued at $244,000 after acquiring an additional 487 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in KB Home by 35.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock valued at $69,000 after acquiring an additional 568 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

KB Home Stock Performance

Shares of KBH opened at $34.80 on Friday. KB Home has a twelve month low of $24.78 and a twelve month high of $44.03. The firm’s 50 day moving average price is $32.15 and its two-hundred day moving average price is $30.37. The firm has a market cap of $2.98 billion, a P/E ratio of 3.82, a PEG ratio of 0.95 and a beta of 1.53.

Insider Buying and Selling at KB Home

In other KB Home news, EVP Albert Z. Praw sold 29,777 shares of KB Home stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $28.77, for a total value of $856,684.29. Following the transaction, the executive vice president now owns 143,363 shares of the company’s stock, valued at $4,124,553.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

KBH has been the subject of several research reports. Evercore ISI lowered their price objective on shares of KB Home from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, September 22nd. Royal Bank of Canada lowered shares of KB Home from an “outperform” rating to a “sector perform” rating and set a $34.00 target price on the stock. in a research note on Friday, January 13th. JPMorgan Chase & Co. raised their target price on shares of KB Home from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Raymond James lowered shares of KB Home from a “strong-buy” rating to a “market perform” rating in a research note on Friday, October 21st. Finally, Barclays raised their target price on shares of KB Home from $41.00 to $42.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, KB Home has an average rating of “Hold” and an average target price of $37.46.

About KB Home

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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.

Further Reading

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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