Comerica Bank Sells 1,995 Shares of KB Home (NYSE:KBH)

Comerica Bank decreased its holdings in shares of KB Home (NYSE:KBH – Get Rating) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,960 shares of the construction company’s stock after selling 1,995 shares during the quarter. Comerica Bank’s holdings in KB Home were worth $1,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of KB Home by 99.2% during the second quarter. FMR LLC now owns 4,341,247 shares of the construction company’s stock worth $123,552,000 after buying an additional 2,161,680 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in KB Home by 125.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Pictet Asset Management SA bought a new stake in KB Home in the 2nd quarter valued at $21,899,000. AQR Capital Management LLC grew its position in KB Home by 157.1% in the 2nd 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 position in shares of KB Home during the 2nd quarter worth about $9,104,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other KB Home news, EVP Albert Z. Praw sold 29,777 shares of KB Home stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $28.77, for a total value of $856,684.29. Following the completion of the transaction, the executive vice president now owns 143,363 shares in the company, valued at approximately $4,124,553.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on KBH. Barclays increased their target price on shares of KB Home from $41.00 to $42.00 in a research note on Wednesday, December 14th. Royal Bank of Canada lowered KB Home from an “outperform” rating to a “sector perform” rating and set a $34.00 price objective on the stock. in a report on Friday, January 13th. JPMorgan Chase & Co. upped their target price on KB Home from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. StockNews.com began coverage on shares of KB Home in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, UBS Group lowered their price target on shares of KB Home from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.46.

KB Home Stock Up 1.9 %

NYSE:KBH opened at $36.83 on Wednesday. The firm has a market cap of $3.15 billion, a PE ratio of 4.04, a price-to-earnings-growth ratio of 1.14 and a beta of 1.53. KB Home has a 12 month low of $24.78 and a 12 month high of $43.12. The company’s 50-day moving average price is $32.47 and its two-hundred day moving average price is $30.50.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Thursday, February 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, February 1st. KB Home’s payout ratio is currently 6.58%.

KB Home Profile

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KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.