KB Home $KBH Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its KB Home stake by 13.8% in the second quarter, selling 24,381 shares and retaining 152,595 shares worth approximately $9.6 million. Institutional investors collectively own 96.09% of the company.
• KB Home reported quarterly EPS of $0.43, slightly below estimates, while revenue reached $1.11 billion. Revenue fell 27.3% year over year, and analysts expect full-year EPS of approximately $3.30.
• The stock opened at $52.28, below the analyst consensus price target of $60.17. Analysts maintain a consensus “Hold” rating, while KB Home continues paying a quarterly dividend of $0.25, yielding about 1.9%.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of KB Home (NYSE:KBH - Free Report) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,595 shares of the construction company's stock after selling 24,381 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of KB Home worth $9,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new stake in shares of KB Home in the first quarter worth $226,000. EverSource Wealth Advisors LLC grew its stake in shares of KB Home by 23.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company's stock valued at $134,000 after buying an additional 482 shares in the last quarter. Marshall Wace LLP grew its position in KB Home by 341.2% in the second quarter. Marshall Wace LLP now owns 86,667 shares of the construction company's stock worth $4,591,000 after acquiring an additional 67,023 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in KB Home in the second quarter worth $711,000. Finally, State Street Corp increased its holdings in shares of 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 acquiring an additional 106,926 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

KB Home Price Performance

Shares of NYSE:KBH opened at $52.28 on Monday. The company has a 50 day moving average of $56.52 and a 200-day moving average of $54.66. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.68 and a beta of 1.34. KB Home has a one year low of $44.03 and a one year high of $68.71.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.09 billion. During the same period last year, the company earned $1.50 EPS. The business's revenue for the quarter was down 27.3% compared to the same quarter last year. Equities research analysts anticipate that KB Home will post 3.3 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home's dividend payout ratio is presently 34.84%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KBH. Royal Bank Of Canada reissued a "sector perform" rating and set a $53.00 target price on shares of KB Home in a research report on Wednesday, June 24th. Citigroup reissued a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Truist Financial upped their target price on shares of KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, June 24th. Barclays increased their price objective on KB Home from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Finally, UBS Group upped their price objective on shares of KB Home from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.17.

Insider Buying and Selling at KB Home

In other KB Home news, EVP Albert Z. Praw sold 22,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the sale, the executive vice president directly owned 104,062 shares in the company, valued at approximately $6,108,439.40. This trade represents a 17.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arthur Collins sold 4,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the completion of the sale, the director directly owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.69% of the company's stock.

KB Home Company 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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