Penserra Capital Management LLC Raises Stake in KB Home $KBH

Penserra Capital Management LLC raised its stake in shares of KB Home (NYSE:KBH) by 25.1% in the second quarter, Holdings Channel reports. The institutional investor owned 9,447 shares of the construction company’s stock after buying an additional 1,894 shares during the quarter. Penserra Capital Management LLC’s holdings in KB Home were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of KB Home in the second quarter valued at approximately $44,000. Bank of New York Mellon Corp lifted its stake in KB Home by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock worth $40,627,000 after purchasing an additional 3,308 shares in the last quarter. Verity Asset Management Inc. bought a new position in KB Home in the 2nd quarter valued at $245,000. Bank of Montreal Can boosted its holdings in KB Home by 10.3% in the 2nd quarter. Bank of Montreal Can now owns 89,544 shares of the construction company’s stock valued at $4,743,000 after purchasing an additional 8,345 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of KB Home by 3.6% during the 2nd quarter. State of Michigan Retirement System now owns 17,238 shares of the construction company’s stock valued at $913,000 after purchasing an additional 600 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Oppenheimer assumed coverage on KB Home in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Wells Fargo & Company upped their target price on KB Home from $50.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 2nd. Evercore ISI set a $65.00 price target on KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada boosted their price objective on KB Home from $58.00 to $59.00 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.36.

KB Home Price Performance

NYSE:KBH opened at $61.50 on Wednesday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 5.17 and a beta of 1.36. The business has a 50 day moving average of $63.01 and a 200 day moving average of $58.30. KB Home has a 1-year low of $48.90 and a 1-year high of $85.66.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. As a group, sell-side analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home’s dividend payout ratio (DPR) is currently 13.25%.

Insider Buying and Selling

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.89% of the stock is currently owned by insiders.

About KB Home

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.