KB Home $KBH Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in KB Home (NYSE:KBH) by 68.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,509 shares of the construction company’s stock after selling 27,233 shares during the quarter. QRG Capital Management Inc.’s holdings in KB Home were worth $796,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KBH. State Street Corp increased its position in shares of KB Home by 3.1% during the second quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock worth $185,562,000 after acquiring an additional 106,926 shares during the last quarter. Geode Capital Management LLC grew its stake in KB Home by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock valued at $94,530,000 after purchasing an additional 123,030 shares in the last quarter. Norges Bank purchased a new stake in KB Home during the 2nd quarter worth approximately $55,329,000. Deprince Race & Zollo Inc. acquired a new position in shares of KB Home in the 3rd quarter valued at approximately $59,301,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of KB Home by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock valued at $40,627,000 after buying an additional 3,308 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Stock Up 2.4%

Shares of NYSE:KBH opened at $61.61 on Thursday. The company’s 50-day moving average price is $60.77 and its 200 day moving average price is $61.01. The company has a market cap of $3.99 billion, a PE ratio of 12.55, a P/E/G ratio of 7.93 and a beta of 1.43. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $70.47.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $2.52 earnings per share. KB Home’s revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that KB Home will post 8.42 EPS for the current year.

Analysts Set New Price Targets

KBH has been the subject of a number of research analyst reports. Zacks Research lowered shares of KB Home from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 23rd. Barclays dropped their target price on shares of KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. UBS Group decreased their target price on KB Home from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a report on Wednesday, October 8th. Finally, Evercore ISI set a $65.00 target price on KB Home and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and an average price target of $62.73.

Insider Activity

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total value of $1,218,662.72. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is owned by company insiders.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.