DAVENPORT & Co LLC bought a new stake in KB Home (NYSE:KBH) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,650 shares of the construction company’s stock, valued at approximately $282,000.
Other hedge funds have also added to or reduced their stakes in the company. Liberty Wealth Management LLC bought a new position in shares of KB Home in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its holdings in shares of KB Home by 2,537.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,370 shares in the last quarter. Financial Architects Inc grew its holdings in shares of KB Home by 97.8% in the fourth quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock valued at $31,000 after acquiring an additional 802 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of KB Home by 1,810.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock valued at $33,000 after acquiring an additional 603,291 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in shares of KB Home by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 4,536 shares of the construction company’s stock valued at $87,000 after acquiring an additional 618 shares in the last quarter. 87.54% of the stock is owned by institutional investors.
Several equities analysts recently commented on KBH shares. ValuEngine upgraded KB Home from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Wedbush reiterated a “neutral” rating and issued a $22.00 price objective on shares of KB Home in a research note on Thursday, March 21st. JPMorgan Chase & Co. upgraded KB Home from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $20.50 to $23.00 in a research note on Wednesday, April 10th. Zacks Investment Research downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Buckingham Research upped their price objective on KB Home from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. KB Home presently has a consensus rating of “Hold” and an average target price of $24.92.
In other KB Home news, insider Jeffrey T. Mezger sold 489,258 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $25.37, for a total transaction of $12,412,475.46. Following the sale, the insider now owns 1,056,532 shares in the company, valued at $26,804,216.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey T. Mezger sold 183,257 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $25.41, for a total value of $4,656,560.37. Following the sale, the chief executive officer now owns 1,056,532 shares in the company, valued at approximately $26,846,478.12. The disclosure for this sale can be found here. Corporate insiders own 7.32% of the company’s stock.
NYSE:KBH opened at $25.56 on Thursday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 1.17 and a beta of 1.57. KB Home has a 1 year low of $16.82 and a 1 year high of $29.45. The company has a current ratio of 5.37, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.
KB Home (NYSE:KBH) last posted its earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.06. The firm had revenue of $811.50 million for the quarter, compared to the consensus estimate of $828.56 million. KB Home had a return on equity of 13.34% and a net margin of 6.05%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. On average, analysts predict that KB Home will post 2.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. KB Home’s dividend payout ratio is currently 35.46%.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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