Ruffer LLP Acquires 21,880 Shares of KB Home (NYSE:KBH)

Key Points

• Ruffer LLP increased its stake in KB Home by 51.3%, now holding approximately 64,544 shares valued at $3.75 million, following a significant purchase of 21,880 shares.
• Insider activity included the COO selling 14,000 shares for about $749,280, resulting in a 15.16% decrease in his holdings, while the company insiders now own only 3.89% of the stock.
• KB Home recently announced a quarterly dividend of $0.25 per share, representing a 1.7% yield; the ex-dividend date is set for August 7th.

Ruffer LLP increased its holdings in shares of KB Home (NYSE:KBH - Free Report) by 51.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,544 shares of the construction company's stock after buying an additional 21,880 shares during the quarter. Ruffer LLP owned 0.09% of KB Home worth $3,751,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in KB Home by 30.1% during the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after purchasing an additional 221 shares in the last quarter. R Squared Ltd bought a new position in KB Home during the 1st quarter worth about $207,000. US Bancorp DE increased its holdings in KB Home by 78.2% during the 1st quarter. US Bancorp DE now owns 22,619 shares of the construction company's stock worth $1,315,000 after purchasing an additional 9,928 shares in the last quarter. Private Advisory Group LLC increased its holdings in KB Home by 1.9% during the 1st quarter. Private Advisory Group LLC now owns 46,745 shares of the construction company's stock worth $2,717,000 after purchasing an additional 886 shares in the last quarter. Finally, Foster & Motley Inc. bought a new position in KB Home during the 1st quarter worth about $682,000. Institutional investors and hedge funds own 96.09% of the company's stock.

Analyst Ratings Changes

KBH has been the topic of a number of recent research reports. Barclays set a $49.00 target price on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. UBS Group lowered their target price on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of KB Home in a research report on Tuesday, June 24th. Evercore ISI lowered their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $66.14.

KB Home Stock Performance

Shares of NYSE:KBH traded up $1.22 during trading on Tuesday, reaching $59.36. 1,508,079 shares of the stock were exchanged, compared to its average volume of 1,569,683. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The firm has a market cap of $4.04 billion, a PE ratio of 7.86, a PEG ratio of 4.67 and a beta of 1.34. The stock has a 50-day moving average price of $53.99 and a 200-day moving average price of $57.19. The company has a current ratio of 5.83, a quick ratio of 0.60 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 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.51 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. The business's revenue was down 10.5% on a year-over-year basis. Research analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 7th. KB Home's payout ratio is presently 13.25%.

Insider Buying and Selling

In other news, Director Arthur Reginald Collins sold 5,000 shares of KB Home stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the sale, the director directly owned 10,262 shares in the company, valued at approximately $558,047.56. The trade was a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief operating officer owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.89% of the stock is currently owned by insiders.

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.