Stevens Capital Management LP purchased a new stake in shares of KB Home (NYSE:KBH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 63,025 shares of the construction company’s stock, valued at approximately $1,622,000. Stevens Capital Management LP owned 0.07% of KB Home as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in KB Home by 3.6% during the fourth quarter. Legal & General Group Plc now owns 99,170 shares of the construction company’s stock worth $1,894,000 after buying an additional 3,443 shares during the last quarter. Norges Bank bought a new position in KB Home during the fourth quarter worth $25,280,000. Quantitative Systematic Strategies LLC bought a new position in KB Home during the first quarter worth $270,000. Meeder Asset Management Inc. raised its stake in KB Home by 2,063.1% during the first quarter. Meeder Asset Management Inc. now owns 30,803 shares of the construction company’s stock worth $745,000 after buying an additional 29,379 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in KB Home during the first quarter worth $282,000. 87.64% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. Barclays raised shares of KB Home from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $29.00 in a research note on Monday, May 13th. Raymond James raised shares of KB Home from an “underperform” rating to a “market perform” rating and set a $25.39 price target for the company in a research note on Friday, June 28th. Zacks Investment Research raised shares of KB Home from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, July 8th. SunTrust Banks started coverage on shares of KB Home in a research note on Monday. They issued a “buy” rating and a $35.00 price target for the company. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 price target (up from $26.00) on shares of KB Home in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $26.82.
KBH traded up $0.18 during midday trading on Friday, hitting $26.68. The company had a trading volume of 20,817 shares, compared to its average volume of 1,532,655. KB Home has a 52 week low of $16.82 and a 52 week high of $27.65. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.16 and a beta of 1.39. The stock’s 50 day moving average price is $26.33 and its 200 day moving average price is $25.07.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, June 26th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $933.49 million. KB Home had a net margin of 5.94% and a return on equity of 12.43%. The business’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Sell-side analysts forecast that KB Home will post 2.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.09 per share. This is a boost from KB Home’s previous quarterly dividend of $0.03. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, July 31st. KB Home’s dividend payout ratio (DPR) is currently 12.77%.
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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