Cetera Investment Advisers Raises Position in KB Home (NYSE:KBH)

Key Points

• Cetera Investment Advisers increased its stake in KB Home by 62.8% during the first quarter, owning approximately 0.05% of the company valued at $2.23 million.
• KB Home reported a net revenue of $1.53 billion for the quarter and earnings per share of $1.50, surpassing the consensus estimate.
• The company announced a quarterly dividend of $0.25, equating to an annualized yield of 1.7%, with the dividend payout ratio currently at 13.25%.

Cetera Investment Advisers raised its holdings in shares of KB Home (NYSE:KBH - Free Report) by 62.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,354 shares of the construction company's stock after buying an additional 14,798 shares during the period. Cetera Investment Advisers owned about 0.05% of KB Home worth $2,229,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after buying an additional 258 shares during the period. Sachetta LLC boosted its holdings in shares of KB Home by 3,142.9% in the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after purchasing an additional 660 shares during the period. Byrne Asset Management LLC boosted its holdings 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 purchasing an additional 264 shares during the period. UMB Bank n.a. boosted its holdings in shares of KB Home by 1,256.9% in the first quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock valued at $57,000 after purchasing an additional 905 shares during the period. Finally, Reyes Financial Architecture Inc. boosted its holdings in shares of KB Home by 35.6% in the first quarter. Reyes Financial Architecture Inc. now owns 990 shares of the construction company's stock valued at $58,000 after purchasing an additional 260 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 $0.80 during mid-day trading on Friday, hitting $59.57. The stock had a trading volume of 1,160,065 shares, compared to its average volume of 1,534,118. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The company has a 50 day moving average of $54.56 and a two-hundred day moving average of $57.02. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The firm has a market cap of $4.05 billion, a PE ratio of 7.89, a PEG ratio of 4.79 and a beta of 1.34.

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 (EPS) 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 for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm earned $2.15 EPS. The firm's revenue was down 10.5% on a year-over-year basis. Research analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's dividend payout ratio is presently 13.25%.

Insider Buying and Selling at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the 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 sale, the chief operating officer directly owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur Reginald Collins sold 5,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the sale, the director directly owned 10,262 shares in the company, valued at $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KBH has been the subject of a number of research reports. 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 report on Thursday, June 26th. Evercore ISI lowered their price target on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. UBS Group lowered their price target on KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Bank of America lowered their target price on KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Finally, Barclays set a $49.00 target price on KB Home and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $66.14.

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.