Livforsakringsbolaget Skandia Omsesidigt Buys 164,600 Shares of KB Home $KBH

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in KB Home by 511.2% during the 2nd quarter, owning 196,800 shares valued at approximately $10.42 million after purchasing an additional 164,600 shares.
• KB Home recently reported a quarterly earnings per share of $1.50, surpassing consensus estimates, despite a 10.5% decline in revenue compared to the previous year.
• The company announced a $0.25 quarterly dividend with an annualized yield of 1.5%, reflecting a low dividend payout ratio of 13.25%.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of KB Home (NYSE:KBH - Free Report) by 511.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 196,800 shares of the construction company's stock after purchasing an additional 164,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned 0.27% of KB Home worth $10,424,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC grew its position in KB Home by 116.1% in the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock valued at $53,957,000 after acquiring an additional 506,415 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of KB Home by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock worth $44,384,000 after purchasing an additional 6,856 shares during the last quarter. Two Sigma Advisers LP raised its stake in KB Home by 4,408.6% in the fourth quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock valued at $34,372,000 after buying an additional 511,400 shares during the last quarter. Systematic Financial Management LP raised its stake in KB Home by 0.4% in the first quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company's stock valued at $28,621,000 after buying an additional 2,137 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in KB Home by 326.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock valued at $26,514,000 after buying an additional 349,298 shares during the last quarter. Institutional investors own 96.09% of the company's stock.

KB Home Stock Down 1.1%

KB Home stock opened at $65.14 on Tuesday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 5.35 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 business's 50-day moving average price is $60.34 and its 200 day moving average price is $56.80. 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 (NYSE:KBH - Get Free Report) last issued its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $2.15 earnings per share. KB Home's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

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

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.89% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on KBH. Evercore ISI decreased their price target on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Oppenheimer began coverage on KB Home in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Barclays set a $49.00 price target on KB Home and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. Zacks Research upgraded KB Home from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company increased their price target on KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.86.

KB Home Company Profile

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.

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