First Trust Direct Indexing L.P. Takes $276,000 Position in KB Home (NYSE:KBH)

First Trust Direct Indexing L.P. purchased a new stake in shares of KB Home (NYSE:KBH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,424 shares of the construction company’s stock, valued at approximately $276,000.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in KB Home by 93.9% in the 3rd quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after buying an additional 1,223,612 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of KB Home by 225.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock valued at $41,435,000 after purchasing an additional 620,238 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of KB Home by 246.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 501,100 shares of the construction company’s stock valued at $23,191,000 after purchasing an additional 356,600 shares in the last quarter. Invesco Ltd. lifted its holdings in KB Home by 26.1% in the third quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock worth $71,590,000 after buying an additional 320,554 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of KB Home by 32.3% during the 3rd quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock worth $57,927,000 after acquiring an additional 305,820 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.52% of the company’s stock.

KB Home Stock Down 0.4 %

Shares of KB Home stock opened at $69.74 on Wednesday. KB Home has a twelve month low of $42.11 and a twelve month high of $72.00. The company’s 50 day moving average is $66.84 and its 200 day moving average is $60.60. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.78 and a beta of 1.74.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. KB Home’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. Sell-side analysts expect that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is currently 10.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KBH shares. JPMorgan Chase & Co. raised their target price on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. UBS Group boosted their target price on shares of KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group increased their price target on shares of KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Barclays boosted their price objective on shares of KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of KB Home from $67.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.11.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.