57,684 Shares in KB Home $KBH Acquired by Titleist Asset Management LLC

Key Points

• Titleist Asset Management LLC acquired a new position in KB Home, purchasing 57,684 shares valued at approximately $3.35 million, representing about 0.08% of the company's stock.
• The latest earnings report revealed KB Home's EPS at $1.50, surpassing estimates, but revenue fell by 10.5% compared to the previous year, amounting to $1.53 billion.
• Several major investors, including Price T Rowe Associates and Quarry LP, significantly increased their holdings in KB Home during the recent quarter.

Titleist Asset Management LLC acquired a new position in KB Home (NYSE:KBH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 57,684 shares of the construction company's stock, valued at approximately $3,353,000. Titleist Asset Management LLC owned approximately 0.08% of KB Home as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in KB Home by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company's stock valued at $72,377,000 after purchasing an additional 75,206 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in KB Home by 0.9% in 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 last quarter. Two Sigma Advisers LP raised its holdings in KB Home by 4,408.6% in the 4th quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock valued at $34,372,000 after acquiring an additional 511,400 shares during the last quarter. Systematic Financial Management LP raised its holdings in KB Home by 0.4% in the 1st quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company's stock valued at $28,621,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in KB Home by 1,136.2% in the 4th quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock valued at $27,822,000 after acquiring an additional 389,097 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Robert V. Mcgibney sold 14,000 shares of the company's 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 transaction, the chief operating officer owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.89% of the company's stock.

KB Home Stock Performance

NYSE KBH traded up $0.92 during trading on Wednesday, reaching $63.65. The company's stock had a trading volume of 978,215 shares, compared to its average volume of 1,472,601. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 5.11 and a beta of 1.36. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The business's fifty day moving average price is $58.06 and its 200-day moving average price is $56.60.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. KB Home's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.15 earnings per share. As a group, analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on KBH. Barclays set a $49.00 price target on shares of KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Evercore ISI decreased their price objective on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Wells Fargo & Company lifted their price objective on shares of KB Home from $50.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of 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, Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $66.86.

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.