NewEdge Advisors LLC Increases Position in KB Home $KBH

Key Points

• NewEdge Advisors LLC significantly increased its holdings in KB Home by 76.1%, now owning 64,613 shares valued at approximately $3.76 million.
• KB Home reported earnings of $1.50 per share for the latest quarter, exceeding expectations, but showed a 10.5% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized yield of 1.5%, with an ex-dividend date of August 7th.

NewEdge Advisors LLC increased its position in KB Home (NYSE:KBH - Free Report) by 76.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,613 shares of the construction company's stock after purchasing an additional 27,932 shares during the quarter. NewEdge Advisors LLC owned approximately 0.09% of KB Home worth $3,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew 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 purchasing an additional 258 shares in the last quarter. Sachetta LLC boosted its position in KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after acquiring an additional 660 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in KB Home during the 1st quarter valued at $40,000. Byrne Asset Management LLC boosted its position in KB Home by 51.8% during the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after acquiring an additional 264 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in KB Home by 30.1% during the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

KB Home Stock Performance

KBH stock traded down $1.43 during midday trading on Friday, reaching $65.95. The stock had a trading volume of 980,249 shares, compared to its average volume of 1,154,324. The firm has a fifty day simple moving average of $60.09 and a two-hundred day simple moving average of $56.84. The stock has a market cap of $4.49 billion, a PE ratio of 8.74, a P/E/G ratio of 5.48 and a beta of 1.36. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The company's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.15 EPS. As a group, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home's dividend payout ratio (DPR) is presently 13.25%.

Insider Activity at KB Home

In related news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction dated Tuesday, July 15th. The stock was 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 owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on KBH shares. UBS Group dropped their target price on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Barclays set a $49.00 target price on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Bank of America dropped their target price on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, Keefe, Bruyette & Woods decreased their price objective 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, KB Home currently has a consensus rating of "Hold" and a consensus target price of $66.86.

About KB Home

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.