Knights of Columbus Asset Advisors LLC Purchases 62,897 Shares of KB Home (NYSE:KBH)

Knights of Columbus Asset Advisors LLC increased its position in shares of KB Home (NYSE:KBH) by 94.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 129,409 shares of the construction company’s stock after acquiring an additional 62,897 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in KB Home were worth $8,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in shares of KB Home in the 2nd quarter valued at about $26,000. Lazard Asset Management LLC purchased a new stake in KB Home in the first quarter valued at approximately $40,000. Fifth Third Bancorp lifted its position in KB Home by 40.9% during the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after purchasing an additional 270 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in KB Home during the fourth quarter valued at approximately $56,000. Finally, Whittier Trust Co. purchased a new position in KB Home in the 4th quarter worth approximately $62,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KBH. UBS Group lifted their price objective on shares of KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wells Fargo & Company lifted their price target on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Wedbush increased their price objective on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. StockNews.com downgraded KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Raymond James increased their price target on shares of KB Home from $61.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and an average price target of $66.11.

KB Home Stock Performance

Shares of NYSE KBH traded up $0.76 during mid-day trading on Friday, hitting $61.17. The stock had a trading volume of 814,736 shares, compared to its average volume of 1,157,844. The business has a 50 day moving average price of $65.92 and a two-hundred day moving average price of $58.42. KB Home has a 1 year low of $40.97 and a 1 year high of $72.00. The firm has a market cap of $4.64 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.69 and a beta of 1.73.

KB Home (NYSE:KBH) last released its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 earnings per share. Equities research analysts predict that KB Home will post 8.01 EPS for the current fiscal year.

Insider Activity at KB Home

In other KB Home news, CEO Jeffrey T. Mezger sold 59,157 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total value of $3,569,533.38. Following the completion of the sale, the chief executive officer now owns 1,491,298 shares in the company, valued at approximately $89,984,921.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,294,522.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey T. Mezger sold 59,157 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total transaction of $3,569,533.38. Following the completion of the transaction, the chief executive officer now owns 1,491,298 shares of the company’s stock, valued at $89,984,921.32. The disclosure for this sale can be found here. Insiders have sold a total of 412,021 shares of company stock worth $24,954,977 in the last 90 days. Company insiders own 4.44% of the company’s stock.

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.