Ruffer LLP Raises Stock Holdings in 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 raised its stake in KB Home (NYSE:KBH - Free Report) by 51.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,544 shares of the construction company's stock after purchasing an additional 21,880 shares during the quarter. Ruffer LLP owned 0.09% of KB Home worth $3,751,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KBH. Manchester Capital Management LLC raised 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 valued at $56,000 after buying an additional 221 shares during the last quarter. R Squared Ltd bought a new position in shares of KB Home during the first quarter valued at about $207,000. US Bancorp DE raised its stake in shares of KB Home by 78.2% during the first quarter. US Bancorp DE now owns 22,619 shares of the construction company's stock valued at $1,315,000 after acquiring an additional 9,928 shares during the last quarter. Private Advisory Group LLC boosted its holdings in shares of KB Home by 1.9% during the first 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 during the period. Finally, Foster & Motley Inc. bought a new stake in shares of KB Home in the first quarter worth about $682,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KBH shares. Bank of America decreased their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Barclays set a $49.00 target price on shares of KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Keefe, Bruyette & Woods reduced their price objective 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. Wells Fargo & Company reiterated an "underweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Finally, UBS Group cut their target price on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.14.

KB Home Stock Performance

KBH traded up $0.80 during trading on Friday, hitting $59.57. The company's stock had a trading volume of 1,082,389 shares, compared to its average volume of 1,487,973. The firm has a market cap of $4.05 billion, a PE ratio of 7.89, a P/E/G ratio of 4.71 and a beta of 1.34. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The business's 50 day simple moving average is $54.40 and its 200-day simple moving average is $57.15. KB Home has a one year low of $48.90 and a one year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.05. The company 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 firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.15 EPS. As a group, sell-side analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

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

Insider Activity

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

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.