UBS Asset Management Americas Inc. lifted its stake in shares of KB Home (NYSE:KBH) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,612 shares of the construction company’s stock after acquiring an additional 3,600 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.06% of KB Home worth $1,777,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of KBH. Hennessy Advisors Inc. bought a new position in KB Home in the 4th quarter worth approximately $34,238,000. Sadoff Investment Management LLC bought a new position in KB Home in the 4th quarter worth approximately $32,749,000. Acadian Asset Management LLC bought a new position in KB Home in the 4th quarter worth approximately $29,512,000. BlackRock Inc. boosted its stake in KB Home by 5.2% in the 4th quarter. BlackRock Inc. now owns 10,649,861 shares of the construction company’s stock worth $340,261,000 after purchasing an additional 522,007 shares during the period. Finally, American Century Companies Inc. boosted its stake 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 worth $7,463,000 after purchasing an additional 201,956 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
In related 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeff Kaminski sold 125,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total value of $4,066,250.00. Following the sale, the chief financial officer now owns 237,775 shares in the company, valued at approximately $7,734,820.75. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the company. ValuEngine upgraded KB Home from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Credit Suisse Group restated a “neutral” rating and issued a $31.00 price target (up from $25.00) on shares of KB Home in a research note on Thursday, January 11th. Mizuho set a $35.00 price target on KB Home and gave the stock a “hold” rating in a research note on Thursday, January 18th. Finally, Wedbush upped their price target on KB Home from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $29.07.
Shares of KB Home (KBH) opened at $28.67 on Tuesday. The stock has a market capitalization of $2,485.73, a P/E ratio of 15.66, a PEG ratio of 0.73 and a beta of 1.54. KB Home has a twelve month low of $18.73 and a twelve month high of $38.80. The company has a current ratio of 5.36, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, January 10th. The construction company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. KB Home had a return on equity of 9.93% and a net margin of 4.13%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. equities research analysts predict that KB Home will post 2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.10 annualized dividend and a dividend yield of 0.35%. KB Home’s dividend payout ratio (DPR) is 5.46%.
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About KB Home
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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