Belpointe Asset Management LLC Invests $70,000 in KB Home (NYSE:KBH)

Belpointe Asset Management LLC purchased a new position in KB Home (NYSE:KBH – Get Rating) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,210 shares of the construction company’s stock, valued at approximately $70,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of KB Home by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 7,970,899 shares of the construction company’s stock worth $258,098,000 after purchasing an additional 108,191 shares during the period. Macquarie Group Ltd. grew its stake in KB Home by 0.5% in the third quarter. Macquarie Group Ltd. now owns 4,002,669 shares of the construction company’s stock valued at $103,794,000 after purchasing an additional 21,677 shares during the last quarter. Fisher Asset Management LLC grew its stake in KB Home by 4.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,833,760 shares of the construction company’s stock valued at $90,255,000 after purchasing an additional 119,612 shares during the last quarter. State Street Corp grew its stake in KB Home by 5.4% in the first quarter. State Street Corp now owns 2,740,695 shares of the construction company’s stock valued at $88,744,000 after purchasing an additional 139,643 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded KB Home from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $32.50 to $42.50 in a research note on Friday, March 24th. StockNews.com initiated coverage on KB Home in a report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada increased their price objective on KB Home from $34.00 to $37.00 and gave the company a “sector perform” rating in a report on Thursday, March 23rd. Barclays increased their price objective on KB Home from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, March 24th. Finally, Wedbush reissued an “outperform” rating and set a $42.00 target price on shares of KB Home in a research report on Monday, March 20th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.29.

KB Home Stock Performance

NYSE:KBH opened at $44.96 on Monday. KB Home has a one year low of $24.78 and a one year high of $46.91. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 4.94, a PEG ratio of 1.23 and a beta of 1.61. The firm’s fifty day moving average is $40.99 and its two-hundred day moving average is $36.24.

KB Home (NYSE:KBH – Get Rating) last posted its quarterly earnings results on Wednesday, March 22nd. The construction company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.05 by $0.40. KB Home had a net margin of 11.73% and a return on equity of 22.86%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $1.47 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts predict that KB Home will post 5.27 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, May 3rd. KB Home’s dividend payout ratio (DPR) is 6.59%.

KB Home declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 22nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 15.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Jeffrey T. Mezger sold 150,000 shares of KB Home stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $45.26, for a total transaction of $6,789,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,472,577 shares of the company’s stock, valued at approximately $66,648,835.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.44% of the company’s stock.

KB Home Company Profile

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KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.