ING Groep NV boosted its stake in KB Home (NYSE:KBH) by 24.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,701 shares of the construction company’s stock after buying an additional 2,495 shares during the quarter. ING Groep NV’s holdings in KB Home were worth $406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KBH. Hennessy Advisors Inc. purchased a new stake in KB Home in the 4th quarter valued at $34,238,000. Sadoff Investment Management LLC purchased a new stake in KB Home in the 4th quarter valued at $32,749,000. Acadian Asset Management LLC purchased a new stake in KB Home in the 4th quarter valued at $29,512,000. American Century Companies Inc. raised its position in KB Home by 187.9% in the 3rd quarter. American Century Companies Inc. now owns 309,409 shares of the construction company’s stock valued at $7,463,000 after buying an additional 201,956 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in KB Home by 19.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 912,190 shares of the construction company’s stock valued at $21,865,000 after buying an additional 148,940 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.
Shares of KB Home (KBH) opened at $31.64 on Monday. KB Home has a 12-month low of $16.45 and a 12-month high of $38.80. The stock has a market capitalization of $2,754.21, a price-to-earnings ratio of 17.29, a PEG ratio of 0.80 and a beta of 1.48. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 5.36.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, January 10th. The construction company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. KB Home had a return on equity of 9.93% and a net margin of 4.13%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. sell-side analysts predict that KB Home will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.025 per share. The ex-dividend date is Wednesday, February 7th. This represents a $0.10 annualized dividend and a dividend yield of 0.32%. KB Home’s payout ratio is 5.46%.
A number of research firms recently commented on KBH. Credit Suisse Group reissued a “neutral” rating and issued a $31.00 price target (up from $25.00) on shares of KB Home in a research report on Thursday, January 11th. UBS Group began coverage on KB Home in a research report on Wednesday, October 25th. They issued a “sell” rating and a $24.00 price target for the company. Mizuho set a $35.00 price target on KB Home and gave the company a “hold” rating in a research report on Thursday, January 18th. ValuEngine raised KB Home from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Wedbush increased their price target on KB Home from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, December 29th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.07.
In other news, SVP Thomas F. Norton sold 47,179 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the completion of the transaction, the senior vice president now owns 103,562 shares in the company, valued at approximately $3,139,999.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total value of $4,066,250.00. Following the transaction, the chief financial officer now owns 237,775 shares of the company’s stock, valued at approximately $7,734,820.75. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.
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KB Home Company Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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