Assenagon Asset Management S.A. Boosts Stake in KB Home $KBH

Key Points

• Assenagon Asset Management S.A. increased its stake in KB Home by 408.6% in Q2, now holding approximately 0.42% of the company worth about $15.93 million.
• KB Home reported $1.50 earnings per share for the last quarter, surpassing estimates by $0.05, although revenue showed a 10.5% decline year-over-year.
• The company declared a quarterly dividend of $0.25 per share with a yield of 1.6%, indicating a disciplined approach to returning value to shareholders.

Assenagon Asset Management S.A. grew its stake in shares of KB Home (NYSE:KBH - Free Report) by 408.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,739 shares of the construction company's stock after purchasing an additional 241,608 shares during the period. Assenagon Asset Management S.A. owned approximately 0.42% of KB Home worth $15,930,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KBH. Harbor Capital Advisors Inc. boosted its stake in shares of KB Home by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Sachetta LLC lifted its stake in KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after buying an additional 660 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of KB Home in the first quarter valued at $40,000. Byrne Asset Management LLC lifted its position in shares of KB Home by 51.8% in the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after acquiring an additional 264 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Price Performance

KBH stock opened at $62.40 on Tuesday. 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 $89.45. The stock's 50 day moving average is $61.24 and its two-hundred day moving average is $56.88. The company has a market capitalization of $4.25 billion, a PE ratio of 8.27, a P/E/G ratio of 5.20 and a beta of 1.36.

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

KB Home Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, August 7th. KB Home's dividend payout ratio is currently 13.25%.

Insider Activity

In other news, COO Robert V. Mcgibney sold 14,000 shares of the 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 directly owned 78,345 shares in the company, valued at $4,193,024.40. This trade represents 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. 3.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KBH has been the topic of a number of recent research reports. Oppenheimer initiated coverage on shares of KB Home in a report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Bank of America increased their price target on KB Home from $60.00 to $67.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. Keefe, Bruyette & Woods reduced their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, June 26th. Barclays set a $49.00 target price on KB Home and gave the stock an "equal weight" rating in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company increased their target price on KB Home from $50.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $68.05.

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.

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