Sei Investments Co. lifted its holdings in shares of KB Home (NYSE:KBH – Free Report) by 54.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,863 shares of the construction company’s stock after buying an additional 60,230 shares during the period. Sei Investments Co. owned about 0.27% of KB Home worth $8,790,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Deprince Race & Zollo Inc. grew its position in KB Home by 13.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock worth $59,472,000 after buying an additional 122,457 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of KB Home during the 4th quarter worth approximately $4,232,000. M&T Bank Corp boosted its stake in shares of KB Home by 673.5% during the 4th quarter. M&T Bank Corp now owns 49,046 shares of the construction company’s stock worth $2,767,000 after acquiring an additional 42,705 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of KB Home by 26.2% in the 4th quarter. Aberdeen Group plc now owns 136,526 shares of the construction company’s stock worth $7,701,000 after acquiring an additional 28,381 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in KB Home in the 4th quarter valued at approximately $1,292,000. 96.09% of the stock is owned by institutional investors and hedge funds.
KB Home Stock Down 2.4%
Shares of NYSE:KBH opened at $54.98 on Friday. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71. The stock’s fifty day simple moving average is $55.30 and its 200-day simple moving average is $55.67. The company has a market capitalization of $3.37 billion, a P/E ratio of 19.16, a P/E/G ratio of 9.11 and a beta of 1.34.
KB Home Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. KB Home’s payout ratio is currently 34.84%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Wells Fargo & Company upped their target price on KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Wednesday, June 24th. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 price objective on shares of KB Home in a research report on Wednesday, June 24th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Citigroup restated a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus price target of $60.17.
KB Home Profile
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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