The Manufacturers Life Insurance Company Buys Shares of 55,796 KB Home $KBH

Key Points

• The Manufacturers Life Insurance Company acquired 55,796 KB Home shares worth approximately $3.49 million, while institutional investors collectively own 96.09% of the company.
• KB Home’s latest quarterly results showed pressure: earnings per share came in at $0.43 versus $0.44 expected, while revenue fell 27.3% year over year to $1.11 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $60.17, compared with the stock’s reported price of $52.21; KB Home also pays a quarterly dividend of $0.25 per share.

The Manufacturers Life Insurance Company bought a new position in KB Home (NYSE:KBH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 55,796 shares of the construction company's stock, valued at approximately $3,492,000. The Manufacturers Life Insurance Company owned 0.09% of KB Home as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. raised its position in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company's stock valued at $26,000 after buying an additional 220 shares during the period. Eastern Bank acquired a new stake in KB Home during the 2nd quarter worth about $26,000. Parkside Financial Bank & Trust boosted its position in KB Home by 73.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company's stock worth $33,000 after acquiring an additional 250 shares during the period. Fulcrum Asset Management LLP purchased a new position in KB Home during the 3rd quarter valued at about $36,000. Finally, Rothschild Investment LLC grew its stake in KB Home by 391.0% during the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company's stock valued at $46,000 after acquiring an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

Insider Activity at KB Home

In other KB Home news, EVP Albert Z. Praw sold 22,015 shares of KB Home stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the transaction, the executive vice president directly owned 104,062 shares of the company's stock, valued at $6,108,439.40. The trade was a 17.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arthur Reginald Collins sold 4,000 shares of KB Home stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director directly owned 9,157 shares in the company, valued at approximately $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KBH. Wells Fargo & Company increased their price target on shares of KB Home from $50.00 to $52.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 24th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $53.00 price objective on shares of KB Home in a research note on Wednesday, June 24th. Barclays increased their target price on shares of KB Home from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of KB Home from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Finally, Citizens Jmp restated a "market outperform" rating and set a $77.00 price target on shares of KB Home in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.17.

KB Home Trading Down 2.0%

NYSE:KBH opened at $52.21 on Wednesday. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71. The firm's fifty day simple moving average is $57.08 and its 200 day simple moving average is $54.95. The firm has a market capitalization of $3.20 billion, a PE ratio of 18.19, a PEG ratio of 8.84 and a beta of 1.34.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $1.50 EPS. The firm's revenue was down 27.3% on a year-over-year basis. As a group, analysts anticipate that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home's payout ratio is currently 34.84%.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

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