Donald Smith & CO. Inc. Trims Holdings in KB Home (NYSE:KBH)

Donald Smith & CO. Inc. reduced its position in shares of KB Home (NYSE:KBH) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 226,110 shares of the construction company’s stock after selling 5,581 shares during the quarter. Donald Smith & CO. Inc. owned 0.30% of KB Home worth $19,375,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of KB Home in the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. purchased a new position in KB Home during the third quarter worth $43,000. Fidelis Capital Partners LLC bought a new stake in KB Home in the first quarter worth about $60,000. Plato Investment Management Ltd boosted its holdings in KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after acquiring an additional 452 shares during the period. Finally, Tortoise Investment Management LLC grew its holdings in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after purchasing an additional 963 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

KB Home Stock Up 1.2 %

Shares of NYSE:KBH traded up $0.93 during trading on Wednesday, hitting $79.38. The stock had a trading volume of 185,409 shares, compared to its average volume of 1,234,660. KB Home has a 12-month low of $43.34 and a 12-month high of $89.70. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.67 and a beta of 1.81. The stock has a 50-day simple moving average of $82.72 and a two-hundred day simple moving average of $75.79.

KB Home (NYSE:KBH) last announced 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 analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.80 earnings per share. As a group, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. KB Home’s payout ratio is 13.23%.

Insider Buying and Selling at KB Home

In other 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 value of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on KBH. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada lowered shares of 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. Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Evercore ISI increased their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group increased their target price on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

KB Home Profile

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.