Bank of New York Mellon Corp Grows Position in KB Home $KBH

Bank of New York Mellon Corp increased its stake in KB Home (NYSE:KBH) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 766,974 shares of the construction company’s stock after buying an additional 3,308 shares during the period. Bank of New York Mellon Corp’s holdings in KB Home were worth $40,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of KBH. Sachetta LLC boosted its holdings in shares of KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock valued at $40,000 after acquiring an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in KB Home in the 1st quarter worth approximately $40,000. Manchester Capital Management LLC lifted its holdings in shares of KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock worth $56,000 after buying an additional 221 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of KB Home during the first quarter valued at about $60,000. Finally, Ameritas Advisory Services LLC bought a new stake in KB Home in the 2nd quarter worth approximately $59,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of KBH stock opened at $61.26 on Thursday. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $85.66. The company has a 50 day moving average price of $62.96 and a 200 day moving average price of $58.33. The stock has a market capitalization of $3.97 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 5.17 and a beta of 1.36.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $2.04 EPS. KB Home’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.6%. KB Home’s payout ratio is currently 13.25%.

Insider Buying and Selling

In other news, EVP Albert Z. Praw sold 20,284 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KBH. Wells Fargo & Company increased their target price on shares of KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada increased their price objective on shares of KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a research note on Thursday, September 25th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Evercore ISI set a $65.00 price objective on shares of KB Home and gave the company an “in-line” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, KB Home presently has a consensus rating of “Hold” and a consensus price target of $64.36.

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.