Insider Selling: KB Home (NYSE:KBH) EVP Sells 22,015 Shares

Key Points

• KB Home EVP Albert Praw sold 22,015 shares at an average price of $58.70, generating approximately $1.29 million and reducing his direct stake by 17.46% to 104,062 shares.
• KB Home shares rose 2.9% to $58.62, while the company’s latest quarterly results showed a slight EPS miss, revenue of $1.11 billion, and a 27.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a 1.7% yield, while analysts maintain a consensus “Hold” rating with an average price target of $60.17.

KB Home (NYSE:KBH - Get Free Report) EVP Albert Praw sold 22,015 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares of the company's stock, valued at $6,108,439.40. This represents a 17.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

KB Home Stock Up 2.9%

Shares of KBH traded up $1.67 during mid-day trading on Friday, hitting $58.62. 837,920 shares of the company's stock were exchanged, compared to its average volume of 1,197,725. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The stock's 50-day simple moving average is $55.98 and its 200-day simple moving average is $55.51. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 9.78 and a beta of 1.35.

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

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. KB Home's dividend payout ratio (DPR) is presently 34.84%.

Institutional Investors Weigh In On KB Home

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in KB Home in the second quarter valued at about $618,489,000. State Street Corp increased its stake in shares of KB Home by 3.1% in the second quarter. State Street Corp now owns 3,503,159 shares of the construction company's stock valued at $185,562,000 after buying an additional 106,926 shares during the period. Freestone Grove Partners LP bought a new position in KB Home in the 3rd quarter valued at approximately $111,050,000. Invesco Ltd. raised its holdings in KB Home by 1.4% in the 3rd quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company's stock valued at $89,153,000 after buying an additional 19,330 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in KB Home by 13.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company's stock worth $59,472,000 after buying an additional 122,457 shares during the period. Institutional investors own 96.09% of the company's stock.

Wall Street Analyst Weigh In

KBH has been the topic of a number of analyst reports. Citizens Jmp reiterated a "market outperform" rating and set a $77.00 price objective on shares of KB Home in a research note on Wednesday, June 24th. UBS Group boosted their target price on shares of KB Home from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Truist Financial upped their price target on shares of KB Home from $50.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, June 24th. 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. Finally, Citigroup reissued a "market outperform" rating on shares of KB Home in a research note on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.17.

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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