29,135 Shares in KB Home $KBH Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has made a new investment of approximately $1.69 million in KB Home by acquiring 29,135 shares in the first quarter.
• KB Home reported an earnings per share (EPS) of $1.50 in its latest quarter, surpassing analysts' expectations of $1.45, despite a 10.5% year-over-year revenue decline.
• The company recently declared a quarterly dividend of $0.25, offering an annual yield of 1.5%, with a dividend payout ratio of 13.25%.

Alyeska Investment Group L.P. bought a new stake in KB Home (NYSE:KBH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,135 shares of the construction company's stock, valued at approximately $1,693,000.

A number of other institutional investors and hedge funds have also modified their holdings of KBH. EP Wealth Advisors LLC purchased a new stake in KB Home in the 1st quarter worth about $450,000. Graham Capital Management L.P. acquired a new position in shares of KB Home in the 1st quarter valued at about $983,000. Titleist Asset Management LLC purchased a new stake in shares of KB Home in the first quarter worth approximately $3,353,000. Rafferty Asset Management LLC lifted its position in shares of KB Home by 2.7% in the first quarter. Rafferty Asset Management LLC now owns 50,584 shares of the construction company's stock worth $2,940,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in shares of KB Home by 102.0% during the first quarter. Campbell & CO Investment Adviser LLC now owns 35,931 shares of the construction company's stock worth $2,088,000 after purchasing an additional 18,139 shares during the period. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Stock Performance

Shares of NYSE:KBH traded up $1.85 during trading on Thursday, reaching $67.42. The stock had a trading volume of 1,059,389 shares, compared to its average volume of 1,165,620. The stock has a fifty day simple moving average of $59.85 and a two-hundred day simple moving average of $56.82. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. KB Home has a 52 week low of $48.90 and a 52 week high of $89.70. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 5.33 and a beta of 1.36.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates 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 previous year, the business earned $2.15 EPS. The business's revenue was down 10.5% on a year-over-year basis. As a group, analysts anticipate 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. Stockholders of record on Thursday, August 7th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home's payout ratio is 13.25%.

Insider Buying and Selling at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KBH shares. Bank of America cut their target price on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Barclays set a $49.00 price objective on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods reduced their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, June 26th. Finally, Oppenheimer started coverage on KB Home in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, KB Home 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.