Bamco Inc. NY Makes New Investment in KB Home $KBH

Bamco Inc. NY purchased a new position in KB Home (NYSE:KBH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 599,141 shares of the construction company's stock, valued at approximately $37,500,000. Bamco Inc. NY owned 0.98% of KB Home at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE acquired a new stake in KB Home during the second quarter valued at $35,377,000. Basswood Capital Management L.L.C. acquired a new stake in shares of KB Home in the second quarter worth approximately $1,848,000. Freestone Grove Partners LP acquired a new stake in KB Home during the 2nd quarter worth $7,993,000. Gallagher Fiduciary Advisors LLC acquired a new stake in KB Home in the 2nd quarter valued at about $431,000. Finally, Odyssean LLC acquired a new position in KB Home during the second quarter worth $278,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of KB Home from $50.00 to $52.00 and gave the company an "underweight" rating in a research note on Wednesday, June 24th. Truist Financial upped their target price on shares of KB Home from $50.00 to $56.00 and gave the stock a "hold" rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Citigroup reaffirmed a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Finally, Zacks Research raised shares of KB Home from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, KB Home presently has a consensus rating of "Hold" and a consensus target price of $60.17.

KB Home Trading Down 1.8%

Shares of KBH stock opened at $56.08 on Thursday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 9.47 and a beta of 1.35. KB Home has a 12-month low of $44.03 and a 12-month high of $68.71. The stock has a 50 day simple moving average of $57.05 and a 200-day simple moving average of $55.18.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company's quarterly revenue was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, equities analysts forecast that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home's dividend payout ratio (DPR) is 34.84%.

Insiders Place Their Bets

In related news, Director Arthur Reginald Collins sold 4,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director directly owned 9,157 shares in the company, valued at approximately $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Albert Z. Praw sold 22,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.69% of the company's stock.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

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