US Bancorp DE Purchases 9,928 Shares of KB Home (NYSE:KBH)

Key Points

• US Bancorp DE increased its stake in KB Home by 78.2%, owning 22,619 shares valued at approximately $1.3 million after acquiring additional shares in the first quarter.
• KB Home reported $1.50 EPS for the last quarter, beating estimates, but its revenue decreased by 10.5% year-over-year, totaling $1.53 billion.
• The company announced a $0.25 per share dividend to be paid in August, representing an annual yield of 1.7% and a payout ratio of 13.25%.

US Bancorp DE lifted its holdings in shares of KB Home (NYSE:KBH - Free Report) by 78.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,619 shares of the construction company's stock after buying an additional 9,928 shares during the quarter. US Bancorp DE's holdings in KB Home were worth $1,315,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its holdings in KB Home by 4,408.6% during the 4th quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock valued at $34,372,000 after acquiring an additional 511,400 shares during the period. First Trust Advisors LP boosted its position in KB Home by 61.2% during the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock worth $87,264,000 after purchasing an additional 503,895 shares in the last quarter. Two Sigma Investments LP boosted its position in KB Home by 1,136.2% during the fourth quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock worth $27,822,000 after purchasing an additional 389,097 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of KB Home in the fourth quarter valued at $19,526,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in KB Home in the fourth quarter valued at $11,543,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on KBH. Barclays set a $49.00 target price on KB Home and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. UBS Group decreased their target price on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a 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. Evercore ISI reduced their price objective on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, Bank of America reduced their price target on 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 analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $66.14.

Insider Buying and Selling at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the transaction, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur Reginald Collins sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director owned 10,262 shares in the company, valued at $558,047.56. The trade was a 32.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.89% of the company's stock.

KB Home Trading Up 4.2%

Shares of KBH traded up $2.59 during trading hours on Wednesday, reaching $63.89. The stock had a trading volume of 467,684 shares, compared to its average volume of 1,486,401. 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 has a 52 week low of $48.90 and a 52 week high of $89.70. The firm has a 50-day moving average of $54.91 and a 200 day moving average of $56.92. The company has a market cap of $4.35 billion, a P/E ratio of 8.46, a P/E/G ratio of 4.72 and a beta of 1.34.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the prior year, the firm earned $2.15 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's payout ratio is 13.25%.

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.