Police & Firemen s Retirement System of New Jersey Raises Stake in KB Home $KBH

Police & Firemen s Retirement System of New Jersey boosted its position in shares of KB Home (NYSE:KBH) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,629 shares of the construction company’s stock after purchasing an additional 1,295 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in KB Home were worth $828,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KBH. Yousif Capital Management LLC raised its position in shares of KB Home by 0.8% during the 2nd quarter. Yousif Capital Management LLC now owns 25,550 shares of the construction company’s stock valued at $1,353,000 after buying an additional 209 shares during the period. CWM LLC raised its position in KB Home by 11.8% in the first quarter. CWM LLC now owns 2,007 shares of the construction company’s stock valued at $117,000 after purchasing an additional 212 shares during the period. Manchester Capital Management LLC lifted its stake in shares of KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Securian Asset Management Inc. grew its holdings in shares of KB Home by 4.6% during the 2nd quarter. Securian Asset Management Inc. now owns 5,462 shares of the construction company’s stock worth $289,000 after purchasing an additional 238 shares during the period. Finally, Hancock Whitney Corp increased its position in shares of KB Home by 1.1% during the 1st quarter. Hancock Whitney Corp now owns 21,930 shares of the construction company’s stock worth $1,275,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at $6,252,044.96. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.89% of the stock is currently owned by company insiders.

KB Home Stock Up 6.7%

NYSE:KBH opened at $61.75 on Friday. KB Home has a 52 week low of $48.90 and a 52 week high of $85.66. The company has a fifty day simple moving average of $61.93 and a two-hundred day simple moving average of $58.59. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 5.17 and a beta of 1.36.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business posted $2.04 earnings per share. KB Home’s revenue was down 7.4% compared to the same quarter last year. On average, analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, November 13th. KB Home’s dividend payout ratio is presently 13.25%.

Analyst Ratings Changes

KBH has been the subject of a number of recent analyst reports. Evercore ISI set a $65.00 price target on shares of KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. Raymond James Financial lifted their target price on shares of KB Home from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. Bank of America dropped their price objective on KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Finally, Royal Bank Of Canada boosted their price objective on KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.36.

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.