James Investment Research Inc. increased its stake in shares of KB Home (NYSE:KBH) by 15.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,627 shares of the construction company’s stock after acquiring an additional 13,992 shares during the quarter. James Investment Research Inc.’s holdings in KB Home were worth $2,525,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. OppenheimerFunds Inc. increased its position in KB Home by 5.0% during the second quarter. OppenheimerFunds Inc. now owns 48,051 shares of the construction company’s stock worth $1,309,000 after acquiring an additional 2,298 shares during the period. Mutual of America Capital Management LLC increased its position in KB Home by 3.9% during the second quarter. Mutual of America Capital Management LLC now owns 72,138 shares of the construction company’s stock worth $1,965,000 after acquiring an additional 2,696 shares during the period. CIBC World Markets Inc. increased its position in KB Home by 1.5% during the second quarter. CIBC World Markets Inc. now owns 194,357 shares of the construction company’s stock worth $5,294,000 after acquiring an additional 2,828 shares during the period. Zacks Investment Management increased its holdings in KB Home by 5.3% in the 2nd quarter. Zacks Investment Management now owns 56,337 shares of the construction company’s stock valued at $1,535,000 after buying an additional 2,831 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in KB Home by 53.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 11,774 shares of the construction company’s stock valued at $335,000 after buying an additional 4,100 shares during the period. 83.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeffrey T. Mezger sold 125,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $24.12, for a total value of $3,015,000.00. Following the sale, the insider now owns 811,287 shares in the company, valued at approximately $19,568,242.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey T. Mezger sold 272,818 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the sale, the insider now owns 861,287 shares in the company, valued at approximately $20,145,502.93. The disclosure for this sale can be found here. Insiders sold a total of 577,382 shares of company stock worth $13,658,566 in the last 90 days. 8.60% of the stock is owned by corporate insiders.
KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 25th. The construction company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts expect that KB Home will post 2.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be paid a $0.025 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.10 annualized dividend and a dividend yield of 0.52%. KB Home’s dividend payout ratio is presently 5.41%.
KBH has been the topic of several analyst reports. Evercore ISI raised shares of KB Home from an “in-line” rating to an “outperform” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Bank of America boosted their price target on shares of KB Home from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Wedbush reissued a “neutral” rating and issued a $29.00 price target (up previously from $25.00) on shares of KB Home in a report on Thursday, September 20th. Raymond James raised shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Thursday, September 27th. Finally, Credit Suisse Group lowered shares of KB Home from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a report on Wednesday, October 17th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. KB Home presently has an average rating of “Hold” and an average price target of $30.89.
KB Home Profile
KB Home operates as a homebuilding company in the United States. It 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. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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