Assetmark Inc. Buys 38,525 Shares of KB Home (NYSE:KBH)

Assetmark Inc. increased its position in KB Home (NYSE:KBH) by 1,926,250.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,527 shares of the construction company’s stock after buying an additional 38,525 shares during the period. Assetmark Inc. owned 0.05% of KB Home worth $2,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in shares of KB Home by 433.0% during the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after acquiring an additional 394 shares during the last quarter. GAMMA Investing LLC purchased a new stake in KB Home during the fourth quarter valued at $47,000. Daiwa Securities Group Inc. bought a new position in KB Home during the fourth quarter valued at $56,000. Whittier Trust Co. purchased a new position in shares of KB Home in the 4th quarter worth $62,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of KB Home in the 4th quarter worth about $130,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KBH has been the subject of several recent research reports. StockNews.com lowered KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their target price on KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. The Goldman Sachs Group raised their price target on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Zelman & Associates reiterated an “underperform” rating and set a $69.00 price objective on shares of KB Home in a research report on Monday, May 13th. Finally, Barclays raised their target price on shares of KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, KB Home currently has a consensus rating of “Hold” and a consensus price target of $66.30.

KB Home Stock Performance

KB Home stock opened at $70.50 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 9.59, a P/E/G ratio of 0.80 and a beta of 1.74. The company has a 50 day moving average price of $67.63 and a 200-day moving average price of $62.79. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $74.65.

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

KB Home Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. This is a positive change from KB Home’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 8th. KB Home’s dividend payout ratio is presently 13.61%.

Insider Activity

In related news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction dated 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 owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas W. Gilligan sold 3,914 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $70.48, for a total value of $275,858.72. Following the sale, the director now owns 48,217 shares in the company, valued at approximately $3,398,334.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,460 shares of company stock worth $4,384,468. Corporate insiders own 4.44% of the company’s stock.

KB Home 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.