Jupiter Topco LLC Purchases New Stake in KB Home $KBH

Jupiter Topco LLC acquired a new position in KB Home (NYSE:KBH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,624 shares of the construction company's stock, valued at approximately $1,791,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBH. Canada Pension Plan Investment Board bought a new position in shares of KB Home during the 2nd quarter valued at approximately $4,237,000. Legal & General Group Plc bought a new stake in shares of KB Home in the 2nd quarter worth approximately $5,132,000. The Manufacturers Life Insurance Company bought a new stake in shares of KB Home in the 2nd quarter worth approximately $3,492,000. Van Hulzen Asset Management LLC purchased a new position in KB Home in the second quarter valued at approximately $563,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in KB Home in the second quarter valued at approximately $742,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Trading Up 0.3%

KBH opened at $52.23 on Friday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The company has a market cap of $3.20 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34. The company has a 50 day moving average of $56.72 and a 200 day moving average of $54.76.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company's revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS. Research analysts forecast that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. KB Home's dividend payout ratio is 34.84%.

Analyst Ratings Changes

KBH has been the subject of several research reports. Barclays increased their price objective on KB Home from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $53.00 price target on shares of KB Home in a research report on Wednesday, June 24th. Citizens Jmp reiterated a "market outperform" rating and set a $77.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Weiss Ratings upgraded KB Home from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Finally, Zacks Research raised KB Home from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.17.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Praw sold 22,015 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at $6,108,439.40. This trade represents a 17.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur Collins sold 4,000 shares of KB Home stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the transaction, the director directly owned 9,157 shares of the company's stock, valued at $521,582.72. The trade was a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company's stock.

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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