KB Home $KBH Shares Newly Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in KB Home (NYSE:KBH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 251,848 shares of the construction company’s stock, valued at approximately $11,703,000.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore set a $59.00 target price on shares of KB Home in a research note on Wednesday, September 23rd. Citigroup reiterated an “outperform” rating on shares of KB Home in a report on Wednesday, September 23rd. Bank of America dropped their price target on KB Home from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Melius Research initiated coverage on KB Home in a report on Tuesday, October 6th. They set a “sell” rating and a $43.00 price objective on the stock. Finally, Wall Street Zen upgraded KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, KB Home presently has an average rating of “Hold” and an average price target of $52.08.

KB Home Trading Down 0.9%

NYSE:KBH opened at $50.02 on Thursday. The stock’s 50-day moving average is $47.40 and its 200-day moving average is $53.34. KB Home has a 1-year low of $40.92 and a 1-year high of $67.57. The stock has a market cap of $3.04 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.62 and a beta of 1.36.

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 analysts’ consensus estimates of $0.88 by $0.17. KB Home had a net margin of 4.39% and a return on equity of 6.56%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $1.61 EPS. The firm’s quarterly revenue was down 20.0% on a year-over-year basis. As a group, equities analysts forecast that KB Home will post 3.26 EPS for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, November 12th. KB Home’s payout ratio is presently 28.17%.

KB Home Company 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.