KLP Kapitalforvaltning AS Increases Stock Position in KB Home $KBH

Key Points

• KLP Kapitalforvaltning AS increased its stake in KB Home by 8.5%, acquiring 8,800 additional shares, bringing its total ownership to approximately $5.97 million.
• Several other institutional investors have also significantly boosted their holdings in KB Home, with Harbor Capital Advisors increasing their stake by 73.7%.
• KB Home recently announced a quarterly dividend of $0.25, reflecting an annualized yield of 1.7%, amid various analyst upgrades and downgrades in ratings.

KLP Kapitalforvaltning AS raised its position in KB Home (NYSE:KBH - Free Report) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,700 shares of the construction company's stock after buying an additional 8,800 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.17% of KB Home worth $5,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after purchasing an additional 258 shares during the last quarter. Sachetta LLC boosted its stake in shares of 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 buying an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of KB Home during the 1st quarter valued at approximately $40,000. Byrne Asset Management LLC boosted its stake in shares of 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 buying an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of 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 buying an additional 221 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KBH shares. Zacks Research upgraded shares of KB Home from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods reduced their price target on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Thursday, June 26th. Bank of America reduced their price target on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, KB Home currently has a consensus rating of "Hold" and a consensus price target of $64.36.

Insider Transactions at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value of $749,280.00. Following the sale, the chief operating officer directly owned 78,345 shares in the company, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.89% of the company's stock.

KB Home Stock Performance

Shares of NYSE KBH opened at $57.65 on Friday. The company has a quick ratio of 0.23, a current ratio of 2.13 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average price is $63.03 and its two-hundred day moving average price is $57.08. KB Home has a 52-week low of $48.90 and a 52-week high of $85.92. The stock has a market capitalization of $3.92 billion, a P/E ratio of 7.64, a P/E/G ratio of 4.70 and a beta of 1.40.

KB Home (NYSE:KBH - Get Free Report) last issued its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.11. The firm had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.59 billion. KB Home had a net margin of 7.92% and a return on equity of 12.91%. KB Home's revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. As a group, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, November 13th. KB Home's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding KBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Home (NYSE:KBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.