First Trust Advisors LP Lowers Holdings in KB Home $KBH

First Trust Advisors LP lessened its stake in KB Home (NYSE:KBH - Free Report) by 71.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,214 shares of the construction company's stock after selling 286,485 shares during the quarter. First Trust Advisors LP owned approximately 0.19% of KB Home worth $6,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in KB Home by 3.1% during the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company's stock valued at $185,562,000 after buying an additional 106,926 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of KB Home during the 3rd quarter worth approximately $111,050,000. Invesco Ltd. boosted its position in shares of KB Home by 1.4% during the 3rd quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company's stock valued at $89,153,000 after acquiring an additional 19,330 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of KB Home by 13.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company's stock valued at $59,472,000 after acquiring an additional 122,457 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of KB Home by 36.4% in the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company's stock valued at $65,758,000 after purchasing an additional 275,965 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KBH. Wells Fargo & Company lifted their price objective on shares of KB Home from $50.00 to $52.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 24th. Barclays increased their price target on shares of KB Home from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Zacks Research upgraded KB Home from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Citigroup reissued a "market outperform" rating on shares of KB Home in a research note on Wednesday, June 17th. Finally, Truist Financial upped their price objective on KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, KB Home currently has an average rating of "Hold" and a consensus target price of $60.17.

KB Home Trading Up 0.0%

NYSE KBH opened at $54.98 on Monday. The stock has a market cap of $3.37 billion, a PE ratio of 19.16, a PEG ratio of 9.11 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 company's 50-day moving average price is $55.30 and its 200-day moving average price is $55.63.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the firm earned $1.50 earnings per share. KB Home's quarterly revenue was down 27.3% on a year-over-year basis. As a group, sell-side analysts forecast that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home's dividend payout ratio (DPR) is presently 34.84%.

KB Home 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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