GSA Capital Partners LLP bought a new position in KB Home (NYSE:KBH – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,123 shares of the construction company’s stock, valued at approximately $2,762,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KBH. Vista Investment Management grew its holdings in KB Home by 3.5% during the 4th quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock valued at $289,000 after buying an additional 175 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of KB Home by 73.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after acquiring an additional 250 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of KB Home by 6.3% during the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after acquiring an additional 262 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of KB Home by 5.5% in the third quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after purchasing an additional 274 shares in the last quarter. 96.09% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
KBH has been the topic of several research reports. Truist Financial boosted their price target on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. Citigroup reissued a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. UBS Group lifted their price objective on shares of KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Citizens Jmp restated a “market outperform” rating and issued a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, KB Home presently has an average rating of “Hold” and an average target price of $60.17.
KB Home Stock Performance
NYSE KBH opened at $56.02 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of 19.52, a P/E/G ratio of 9.30 and a beta of 1.35. The business’s 50 day moving average price is $56.66 and its 200-day moving average price is $55.39. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $68.71.
KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, equities analysts predict that KB Home will post 3.3 EPS for the current year.
KB Home Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, August 6th. KB Home’s dividend payout ratio is presently 34.84%.
Insider Activity
In other news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director owned 9,157 shares of the company’s stock, valued at approximately $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the sale, the executive vice president owned 104,062 shares in the company, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.
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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