United Services Automobile Association grew its holdings in KB Home (NYSE:KBH) by 64.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 198,306 shares of the construction company’s stock after acquiring an additional 77,503 shares during the quarter. United Services Automobile Association owned 0.23% of KB Home worth $5,402,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in KBH. New York State Common Retirement Fund lifted its position in KB Home by 1.3% during the first quarter. New York State Common Retirement Fund now owns 171,413 shares of the construction company’s stock worth $4,877,000 after purchasing an additional 2,228 shares during the period. OppenheimerFunds Inc. lifted its position in KB Home by 5.0% during the second quarter. OppenheimerFunds Inc. now owns 48,051 shares of the construction company’s stock worth $1,309,000 after purchasing an additional 2,298 shares during the period. Mutual of America Capital Management LLC lifted its position in KB Home by 3.9% during the second quarter. Mutual of America Capital Management LLC now owns 72,138 shares of the construction company’s stock worth $1,965,000 after purchasing an additional 2,696 shares during the period. CIBC World Markets Inc. lifted its position in KB Home by 1.5% during the second quarter. CIBC World Markets Inc. now owns 194,357 shares of the construction company’s stock worth $5,294,000 after purchasing an additional 2,828 shares during the period. Finally, Zacks Investment Management lifted its position in KB Home by 5.3% during the second quarter. Zacks Investment Management now owns 56,337 shares of the construction company’s stock worth $1,535,000 after purchasing an additional 2,831 shares during the period. 85.33% of the stock is owned by institutional investors.
Shares of NYSE KBH opened at $20.69 on Friday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.46 and a beta of 1.35. KB Home has a 12 month low of $20.55 and a 12 month high of $38.80.
KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 25th. The construction company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.10. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Sell-side analysts forecast that KB Home will post 2.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.48%. The ex-dividend date is Wednesday, November 14th. KB Home’s payout ratio is 5.41%.
Several equities research analysts recently weighed in on KBH shares. Wedbush cut their price objective on shares of KB Home from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, June 29th. Bank of America upped their price objective on shares of KB Home from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Raymond James raised shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Thursday, September 27th. Susquehanna Bancshares raised shares of KB Home from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $34.00 to $36.00 in a research report on Tuesday, July 10th. Finally, ValuEngine raised shares of KB Home from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.39.
In other KB Home news, insider Jeffrey T. Mezger sold 272,818 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the transaction, the insider now owns 861,287 shares of the company’s stock, valued at $20,145,502.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey T. Mezger sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $23.56, for a total value of $2,356,000.00. Following the transaction, the chief executive officer now directly owns 861,287 shares of the company’s stock, valued at approximately $20,291,921.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 577,382 shares of company stock valued at $13,658,566. Insiders own 8.60% of the company’s stock.
About KB Home
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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