5,800 Shares in KB Home $KBH Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP purchased 5,800 shares of KB Home, valued at approximately $337,000, indicating renewed institutional interest in the company.
• Recent analyst reports have resulted in decreased price targets for KB Home, with UBS Group reducing their target from $86.00 to $80.00, highlighting concerns over market conditions.
• KB Home announced a quarterly dividend of $0.25, providing a 1.5% yield, reflecting the company's commitment to returning value to shareholders despite recent revenue declines.

Sciencast Management LP purchased a new position in KB Home (NYSE:KBH - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,800 shares of the construction company's stock, valued at approximately $337,000.

A number of other hedge funds have also modified their holdings of KBH. AQR Capital Management LLC increased its position in KB Home by 116.1% during the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock worth $53,957,000 after buying an additional 506,415 shares during the last quarter. Bank of New York Mellon Corp increased its position in KB Home by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock worth $44,384,000 after buying an additional 6,856 shares during the last quarter. Two Sigma Advisers LP increased its position in KB Home by 4,408.6% during the fourth quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock worth $34,372,000 after buying an additional 511,400 shares during the last quarter. Systematic Financial Management LP boosted its holdings in KB Home by 0.4% during the first quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company's stock valued at $28,621,000 after acquiring an additional 2,137 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in KB Home by 326.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock valued at $26,514,000 after acquiring an additional 349,298 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the transaction, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.89% of the company's stock.

KB Home Stock Performance

Shares of NYSE KBH traded down $1.43 during mid-day trading on Friday, hitting $65.95. The company had a trading volume of 980,249 shares, compared to its average volume of 1,460,299. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The firm has a market cap of $4.49 billion, a P/E ratio of 8.74, a PEG ratio of 5.33 and a beta of 1.36. The business's 50-day simple moving average is $59.85 and its 200-day simple moving average is $56.82.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business posted $2.15 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. KB Home's dividend payout ratio is 13.25%.

Analyst Ratings Changes

KBH has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on shares of KB Home in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Bank of America decreased their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Evercore ISI decreased their price target on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Wells Fargo & Company increased their target price on shares of KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, September 2nd. Finally, UBS Group reduced their target price on shares of KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $66.86.

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.