Virtu Financial LLC Grows Position in KB Home (NYSE:KBH)

Key Points

• Virtu Financial LLC increased its stake in KB Home by 90.0% during Q1, now holding shares valued at over $1 million.
• Analysts have downgraded KB Home's price targets, with Evercore ISI lowering theirs from $77.00 to $70.00, while maintaining an "outperform" rating.
• KB Home is set to pay a $0.25 quarterly dividend on August 21st, yielding an annual rate of 1.7% as per its current payout ratio of 13.25%.

Virtu Financial LLC increased its stake in KB Home (NYSE:KBH - Free Report) by 90.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,043 shares of the construction company's stock after acquiring an additional 8,546 shares during the quarter. Virtu Financial LLC's holdings in KB Home were worth $1,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KBH. Two Sigma Advisers LP increased 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 worth $34,372,000 after acquiring an additional 511,400 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of KB Home by 61.2% during the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock worth $87,264,000 after buying an additional 503,895 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of KB Home by 1,136.2% during the fourth quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock worth $27,822,000 after buying an additional 389,097 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of KB Home during the fourth quarter worth $19,526,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of KB Home during the fourth quarter worth $11,543,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Trading Down 0.2%

Shares of KBH stock traded down $0.12 on Friday, hitting $62.91. 1,424,154 shares of the stock traded hands, compared to its average volume of 1,451,517. The firm's 50-day moving average price is $55.55 and its two-hundred day moving average price is $56.88. 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 stock has a market capitalization of $4.28 billion, a PE ratio of 8.33, a PEG ratio of 5.06 and a beta of 1.34. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70.

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 for the quarter, beating the consensus estimate of $1.45 by $0.05. The firm 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 company's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 EPS. As a group, analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. KB Home's dividend payout ratio is presently 13.25%.

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the transaction, the chief operating officer owned 78,345 shares of the company's stock, valued at $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed an "underweight" rating and set a $52.00 target price (down previously from $53.00) on shares of KB Home in a report on Tuesday, June 24th. Barclays set a $49.00 target price on shares of KB Home and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Evercore ISI dropped their target price 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. Bank of America dropped their target price 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. Finally, Keefe, Bruyette & Woods dropped their target price on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, KB Home has an average rating of "Hold" and an average price target of $66.14.

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.