LPL Financial LLC Sells 6,539 Shares of KB Home $KBH

Key Points

• LPL Financial LLC reduced its ownership in KB Home by 20.6%, selling 6,539 shares and holding a total of 25,215 shares valued at approximately $1.465 million.
• In its recent earnings report, KB Home beat analysts' expectations with $1.50 earnings per share and $1.53 billion in revenue, despite a 10.5% decline in revenue compared to the previous year.
• KB Home declared a $0.25 quarterly dividend, equating to an annual yield of 1.5%, with a low dividend payout ratio of 13.25%.

LPL Financial LLC cut its stake in KB Home (NYSE:KBH - Free Report) by 20.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,215 shares of the construction company's stock after selling 6,539 shares during the quarter. LPL Financial LLC's holdings in KB Home were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in KB Home by 3.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company's stock valued at $1,392,000 after buying an additional 819 shares during the period. Principal Financial Group Inc. boosted its position in shares of KB Home by 0.4% in the first quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company's stock worth $12,102,000 after purchasing an additional 902 shares during the period. Bank of New York Mellon Corp boosted its position in shares of KB Home by 0.9% in the first 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 period. SG Americas Securities LLC boosted its position in shares of KB Home by 11.5% in the first quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company's stock worth $596,000 after purchasing an additional 1,057 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of KB Home by 64.3% in the first quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company's stock worth $96,000 after purchasing an additional 649 shares during the period. 96.09% of the stock is currently owned by institutional investors.

KB Home Stock Up 7.0%

Shares of KB Home stock opened at $64.8060 on Friday. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 4.87 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The firm's 50-day moving average is $56.45 and its two-hundred day moving average is $56.73.

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 analysts' consensus estimates of $1.45 by $0.05. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The company's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.15 EPS. As a group, research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

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

Analyst Upgrades and Downgrades

KBH has been the subject of a number of research reports. Barclays set a $49.00 target price on shares of KB Home and gave the stock an "equal weight" rating in a research report on Tuesday, June 24th. Bank of America dropped their target price on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. UBS Group decreased their price target on shares of KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $52.00 price target (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $66.14.

Insider Buying and Selling at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the transaction, the chief operating officer directly owned 78,345 shares of the company's stock, valued at $4,193,024.40. The trade was a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.89% of the stock is currently owned by company insiders.

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.

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