Invesco Ltd. lessened its holdings in KB Home (NYSE:KBH - Free Report) by 12.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,109,599 shares of the construction company's stock after selling 287,368 shares during the period. Invesco Ltd. owned about 2.94% of KB Home worth $122,610,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in KBH. Harbor Capital Advisors Inc. raised its holdings in shares of KB Home by 73.7% in the 1st 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 last quarter. Sachetta LLC raised its holdings in shares of KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after acquiring an additional 660 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the 1st quarter worth about $40,000. Byrne Asset Management LLC raised its holdings in shares of KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after acquiring an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on KBH shares. Wells Fargo & Company restated an "underweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of KB Home in a report on Tuesday, June 24th. UBS Group lowered their target price on shares of KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Evercore ISI reduced their price objective on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Bank of America reduced their price objective on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $66.14.
Get Our Latest Report on KBH
Insider Buying and Selling
In related news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.89% of the company's stock.
KB Home Stock Down 1.0%
KB Home stock opened at $63.08 on Friday. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The firm has a 50 day moving average price of $55.33 and a 200-day moving average price of $56.92. The company has a market capitalization of $4.29 billion, a P/E ratio of 8.35, a P/E/G ratio of 5.12 and a beta of 1.34. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47.
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 for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The firm had revenue of $1.53 billion during 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 company's revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts predict that KB Home will post 8.42 EPS for the current year.
KB Home Announces Dividend
The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.00 annualized dividend and a yield of 1.6%. KB Home's dividend payout ratio (DPR) is 13.25%.
KB Home Company Profile
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Free Report)
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.
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