Victory Capital Management Inc. Has $6.74 Million Stock Holdings in KB Home (NYSE:KBH)

Key Points

• Victory Capital Management Inc. increased its stake in KB Home by 53.7% in Q1, owning 115,902 shares valued at approximately $6.74 million.
• KB Home reported its quarterly earnings with an EPS of $1.50, exceeding estimates, but revenues declined by 10.5% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, yielding 1.76%, scheduled for payment on August 21st.

Victory Capital Management Inc. lifted its position in shares of KB Home (NYSE:KBH - Free Report) by 53.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,902 shares of the construction company's stock after purchasing an additional 40,493 shares during the period. Victory Capital Management Inc. owned 0.16% of KB Home worth $6,736,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KBH. Norges Bank acquired a new position in KB Home in the 4th quarter valued at about $49,638,000. Two Sigma Advisers LP grew its stake 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 buying an additional 511,400 shares during the last quarter. First Trust Advisors LP grew its stake in KB Home by 61.2% in the 4th quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock valued at $87,264,000 after buying an additional 503,895 shares during the last quarter. Two Sigma Investments LP grew its stake 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 buying an additional 389,097 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in KB Home in the 4th quarter valued at about $19,526,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the transaction, the director owned 10,262 shares of the company's stock, valued at approximately $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer directly owned 78,345 shares of the company's stock, valued at $4,193,024.40. The trade was a 15.16% decrease in their position. The disclosure for this sale can be found here. 3.89% of the stock is currently owned by company insiders.

KB Home Price Performance

KBH stock traded down $0.36 during trading on Tuesday, reaching $56.67. 159,573 shares of the company were exchanged, compared to its average volume of 1,494,010. The company has a 50-day moving average of $53.51 and a two-hundred day moving average of $57.56. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 4.57 and a beta of 1.34. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.05. The firm had revenue of $1.53 billion during 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 company's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 EPS. As a group, equities analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's payout ratio is currently 13.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, June 26th. Barclays set a $49.00 price objective on shares of KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Bank of America cut their price objective on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Evercore ISI cut their price objective on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Finally, Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $66.14.

KB Home 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.