Brandywine Global Investment Management LLC Sells 81,295 Shares of KB Home $KBH

Key Points

• Brandywine Global Investment Management LLC reduced its stake in KB Home by 24.0%, selling 81,295 shares and owning approximately 0.36% of the company worth about $14.96 million.
• Analysts have set a new average target price of $66.14 for KB Home, with ratings ranging from sell to strong buy.
• KB Home announced a quarterly dividend of $0.25, which represents a 1.6% dividend yield and a payout ratio of 13.25%.

Brandywine Global Investment Management LLC decreased its holdings in KB Home (NYSE:KBH - Free Report) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,364 shares of the construction company's stock after selling 81,295 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.36% of KB Home worth $14,958,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

KBH has been the subject of several recent research reports. Wells Fargo & Company reissued an "underweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of KB Home in a research report on Tuesday, June 24th. Bank of America lowered their price objective on KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Evercore ISI lowered their price objective on KB Home from $77.00 to $70.00 and set an "outperform" 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. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $66.14.

Insider Activity

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

KB Home Stock Performance

NYSE KBH traded up $1.0350 during trading hours on Tuesday, hitting $63.2450. The company's stock had a trading volume of 1,091,318 shares, compared to its average volume of 1,490,157. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company's 50 day simple moving average is $55.91 and its two-hundred day simple moving average is $56.74. The company has a market cap of $4.30 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 5.05 and a beta of 1.34. 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 (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 EPS. As a group, sell-side analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, August 7th. KB Home's payout ratio is currently 13.25%.

KB Home Company Profile

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.