Los Angeles Capital Management LLC Trims Stock Position in KB Home (NYSE:KBH)

Los Angeles Capital Management LLC lessened its holdings in KB Home (NYSE:KBHFree Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,079 shares of the construction company’s stock after selling 1,160 shares during the period. Los Angeles Capital Management LLC’s holdings in KB Home were worth $1,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of KB Home by 3.5% in the third quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock valued at $361,896,000 after purchasing an additional 263,194 shares in the last quarter. AQR Capital Management LLC increased its position in shares of KB Home by 93.9% in the third quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after acquiring an additional 1,223,612 shares in the last quarter. Invesco Ltd. grew its holdings in KB Home by 26.1% during the 3rd quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock valued at $71,590,000 after purchasing an additional 320,554 shares in the last quarter. American Century Companies Inc. grew its holdings in 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 valued at $57,927,000 after purchasing an additional 305,820 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in 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. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.8 %

Shares of KB Home stock opened at $70.54 on Friday. KB Home has a 12 month low of $42.11 and a 12 month high of $74.65. The business has a fifty day simple moving average of $68.25 and a 200-day simple moving average of $65.09. The stock has a market cap of $5.36 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.77.

KB Home (NYSE:KBHGet Free Report) last released its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that KB Home will post 8.15 EPS for the current fiscal year.

KB Home Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.25 per share. This is a positive change from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Wednesday, May 8th. KB Home’s dividend payout ratio (DPR) is 13.23%.

Analyst Ratings Changes

A number of research firms have commented on KBH. Zelman & Associates reiterated an “underperform” rating and set a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. The Goldman Sachs Group lifted their price objective on shares of KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday. UBS Group raised their target price on shares of KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.63.

Read Our Latest Research Report on KBH

Insider Transactions at KB Home

In other news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the transaction, the executive vice president now directly owns 135,512 shares in the company, valued at $9,500,746.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction of $275,858.72. Following the transaction, the director now directly owns 48,217 shares in the company, valued at $3,398,334.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,460 shares of company stock worth $4,384,468. Company insiders own 4.44% of the company’s stock.

About KB Home

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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