Bank of New York Mellon Corp Has $44.38 Million Position in KB Home (NYSE:KBH)

Bank of New York Mellon Corp grew its holdings in KB Home (NYSE:KBH - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 763,666 shares of the construction company's stock after buying an additional 6,856 shares during the period. Bank of New York Mellon Corp owned 1.06% of KB Home worth $44,384,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KBH. Norges Bank bought a new position in shares of KB Home during the fourth quarter worth approximately $49,638,000. Two Sigma Advisers LP increased its stake in shares of 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 purchasing an additional 511,400 shares during the period. First Trust Advisors LP increased its stake in shares of KB Home by 61.2% during the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock worth $87,264,000 after purchasing an additional 503,895 shares during the period. Two Sigma Investments LP increased its stake in shares of KB Home by 1,136.2% during the fourth quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock worth $27,822,000 after purchasing an additional 389,097 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of KB Home during the fourth quarter worth approximately $19,526,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KBH. UBS Group lowered their target price on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Evercore ISI lowered their price objective on KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Wedbush restated a "neutral" rating and set a $75.00 price objective on shares of KB Home in a research note on Tuesday, March 25th. Barclays set a $49.00 price objective on KB Home and gave the stock an "equal weight" rating in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company restated an "underweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, KB Home currently has an average rating of "Hold" and an average price target of $66.14.

Insider Buying and Selling at KB Home

In related news, Director Arthur Reginald Collins sold 5,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director owned 10,262 shares of the company's stock, valued at $558,047.56. This trade represents a 32.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 directly owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.89% of the company's stock.

KB Home Price Performance

Shares of NYSE KBH traded up $0.79 during mid-day trading on Thursday, hitting $55.64. 1,775,479 shares of the stock traded hands, compared to its average volume of 1,327,750. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The company has a market cap of $3.79 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 4.41 and a beta of 1.34. The firm has a 50 day simple moving average of $53.25 and a two-hundred day simple moving average of $58.07.

KB Home (NYSE:KBH - Get Free Report) last released 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the business posted $2.15 EPS. KB Home's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's dividend payout ratio (DPR) is 13.25%.

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.