Thrivent Financial for Lutherans Cuts Stock Position in KB Home (NYSE:KBH)

Thrivent Financial for Lutherans cut its position in shares of KB Home (NYSE:KBH) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,744 shares of the construction company’s stock after selling 834 shares during the quarter. Thrivent Financial for Lutherans’ holdings in KB Home were worth $1,520,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KBH. Wealth Enhancement Advisory Services LLC grew its position in KB Home by 0.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after acquiring an additional 161 shares during the last quarter. CWM LLC boosted its stake in shares of KB Home by 10.2% in the 3rd quarter. CWM LLC now owns 1,975 shares of the construction company’s stock valued at $169,000 after purchasing an additional 183 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of KB Home by 3.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock valued at $353,000 after purchasing an additional 189 shares during the last quarter. Jupiter Wealth Management LLC raised its position in KB Home by 1.2% in the 3rd quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock worth $1,619,000 after purchasing an additional 225 shares during the period. Finally, Blue Trust Inc. lifted its stake in KB Home by 23.4% in the third quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock worth $109,000 after purchasing an additional 241 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KBH. Bank of America raised their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wedbush lifted their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Finally, The Goldman Sachs Group increased their price target on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.50.

KB Home Trading Down 0.1 %

Shares of NYSE KBH opened at $82.79 on Friday. The firm has a fifty day simple moving average of $81.24 and a two-hundred day simple moving average of $77.95. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70. The firm has a market capitalization of $6.07 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 earnings per share. On average, sell-side analysts predict that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, November 14th. KB Home’s payout ratio is presently 12.82%.

About KB Home

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.