LSV Asset Management Cuts Holdings in KB Home (NYSE:KBH)

Key Points

• LSV Asset Management reduced its stake in KB Home by 2.3%, selling 26,611 shares and now owning 1,111,289 shares valued at approximately $64.6 million.
• KB Home reported earnings of $1.50 per share for the latest quarter, exceeding expectations, although revenue fell by 10.5% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, expected to be paid on August 21, representing an annualized dividend yield of 1.7%.

LSV Asset Management reduced its position in KB Home (NYSE:KBH - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,111,289 shares of the construction company's stock after selling 26,611 shares during the quarter. LSV Asset Management owned 1.55% of KB Home worth $64,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in KB Home by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company's stock valued at $1,392,000 after acquiring an additional 819 shares during the period. Principal Financial Group Inc. boosted its holdings in KB Home by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company's stock valued at $12,102,000 after acquiring an additional 902 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 valued at $44,384,000 after acquiring an additional 6,856 shares during the period. SG Americas Securities LLC boosted its holdings in KB Home by 11.5% during the 1st quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company's stock valued at $596,000 after acquiring an additional 1,057 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in KB Home by 64.3% during the 1st quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company's stock valued at $96,000 after acquiring an additional 649 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Up 1.1%

Shares of NYSE:KBH traded up $0.67 during trading on Thursday, hitting $59.06. The stock had a trading volume of 103,446 shares, compared to its average volume of 1,484,259. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company has a market capitalization of $4.02 billion, a PE ratio of 7.81, a PEG ratio of 4.76 and a beta of 1.34. The firm's fifty day moving average is $54.12 and its 200 day moving average is $57.20. 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 posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the company earned $2.15 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, August 7th. KB Home's dividend payout ratio (DPR) is currently 13.25%.

Insider Buying and Selling at KB Home

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

Wall Street Analyst Weigh In

KBH has been the subject of several analyst reports. Evercore ISI dropped their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. UBS Group lowered their price target on KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Bank of America lowered 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. Keefe, Bruyette & Woods lowered their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Thursday, June 26th. Finally, Barclays set a $49.00 price target on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $66.14.

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.