KB Home (NYSE:KBH) Announces Quarterly Dividend of $0.25

KB Home (NYSE:KBH) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.25 per share by the construction company on Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, May 8th. This is a positive change from KB Home’s previous quarterly dividend of $0.20.

KB Home has raised its dividend payment by an average of 18.6% annually over the last three years and has raised its dividend every year for the last 1 years. KB Home has a dividend payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KB Home to earn $8.72 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.2%.

KB Home Trading Up 1.0 %

KBH stock traded up $0.62 during midday trading on Friday, hitting $61.03. 1,713,756 shares of the company’s stock were exchanged, compared to its average volume of 1,170,181. KB Home has a 12-month low of $40.97 and a 12-month high of $72.00. The firm has a 50 day moving average price of $65.92 and a 200-day moving average price of $58.42. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.69 and a beta of 1.73.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that KB Home will post 8.01 EPS for the current fiscal year.

Insider Transactions at KB Home

In related news, Director Arthur Reginald Collins sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $60.12, for a total transaction of $330,660.00. Following the completion of the transaction, the director now owns 9,098 shares in the company, valued at $546,971.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at $88,583,101.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur Reginald Collins sold 5,500 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $60.12, for a total transaction of $330,660.00. Following the sale, the director now owns 9,098 shares of the company’s stock, valued at $546,971.76. The disclosure for this sale can be found here. Insiders sold a total of 412,021 shares of company stock worth $24,954,977 in the last quarter. 4.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On KB Home

A number of large investors have recently bought and sold shares of the business. Harbour Investments Inc. acquired a new position in KB Home during the 2nd quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new position in KB Home in the first quarter valued at about $40,000. KBC Group NV acquired a new stake in shares of KB Home during the 4th quarter valued at approximately $91,000. Acadian Asset Management LLC boosted its stake in shares of KB Home by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock worth $69,000 after acquiring an additional 568 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of KB Home during the 2nd quarter worth $135,000. Institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

KBH has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 21st. UBS Group boosted their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Raymond James raised their price target on KB Home from $61.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Barclays boosted their price objective on KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, Wedbush raised their target price on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. One research analyst has 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.11.

About KB Home

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.