50,058 KB Home $KBH Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in KB Home (NYSE:KBH) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,576 shares of the construction company’s stock after selling 50,058 shares during the quarter. Pictet Asset Management Holding SA’s holdings in KB Home were worth $4,674,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of KB Home during the 2nd quarter worth $618,489,000. Donald Smith & CO. Inc. purchased a new stake in KB Home during the second quarter valued at about $108,652,000. Bamco Inc. NY purchased a new stake in KB Home during the second quarter valued at about $37,500,000. Bank of New York Mellon Corp acquired a new stake in KB Home during the second quarter worth about $35,837,000. Finally, Bank of America Corp DE acquired a new stake in KB Home during the second quarter worth about $35,377,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded KB Home from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Bank of America decreased their target price on KB Home from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Citigroup reissued an “outperform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Stonex Financial upgraded shares of KB Home to a “hold” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company reduced their price target on shares of KB Home from $50.00 to $42.00 and set an “underweight” rating on the stock in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.08.

KB Home Price Performance

KB Home stock traded down $0.55 during midday trading on Friday, hitting $47.88. 799,814 shares of the company were exchanged, compared to its average volume of 1,223,900. The company has a market cap of $2.91 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 2.51 and a beta of 1.36. KB Home has a fifty-two week low of $40.92 and a fifty-two week high of $67.57. The company’s fifty day moving average price is $47.23 and its 200-day moving average price is $53.24.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. KB Home had a net margin of 4.39% and a return on equity of 6.56%. KB Home’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, analysts expect that KB Home will post 3.26 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. KB Home’s dividend payout ratio is 28.17%.

KB Home Profile

KB Home is a U.S. homebuilding company that plans and builds residential communities, primarily offering single-family homes and townhomes. Its homes are designed for a range of buyers, and the company allows customers to personalize aspects of their homes through its built-to-order approach. Founded in 1957 as Kaufman & Broad, the company adopted the KB Home name in 2001. It serves homebuyers in markets across the United States, with operations in Western, Southwestern and Southeastern regions.