Ruffer LLP Increases Stock Holdings in KB Home $KBH

Key Points

• Ruffer LLP has increased its holdings in KB Home by 66.9% during the second quarter, now owning approximately 0.16% of the company's stock, valued at about $5.7 million.
• Several other institutional investors also raised their stakes in KB Home, with hedge funds owning 96.09% of the company's stock.
• KB Home announced a quarterly dividend of $0.25 per share, which translates to an annualized dividend of $1.00 and a yield of 1.6%.

Ruffer LLP increased its holdings in shares of KB Home (NYSE:KBH - Free Report) by 66.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,751 shares of the construction company's stock after buying an additional 43,207 shares during the period. Ruffer LLP owned about 0.16% of KB Home worth $5,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its holdings in KB Home by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. Sachetta LLC lifted its holdings in KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after purchasing an additional 660 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in KB Home in the 1st quarter valued at $40,000. Byrne Asset Management LLC lifted its holdings in KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after purchasing an additional 264 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

Insider Buying and Selling

In related news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was 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 in the company, valued at $4,193,024.40. This trade represents a 15.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays set a $49.00 price objective on KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Keefe, Bruyette & Woods cut their target price on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Thursday, June 26th. Oppenheimer started coverage on KB Home in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Wells Fargo & Company raised their target price on KB Home from $50.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.05.

KB Home Stock Up 0.1%

Shares of NYSE:KBH opened at $62.45 on Thursday. The business has a 50-day moving average price of $61.56 and a 200 day moving average price of $56.95. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 5.07 and a beta of 1.36. KB Home has a 12-month low of $48.90 and a 12-month high of $86.73.

KB Home (NYSE:KBH - Get Free Report) last issued its quarterly earnings data on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.11. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The company's quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the company earned $2.04 EPS. Sell-side analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, August 7th. KB Home's dividend payout ratio (DPR) is 13.25%.

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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