Invesco Ltd. Has $15.54 Million Stake in KB Home (NYSE:KBH)

Invesco Ltd. raised its position in KB Home (NYSE:KBH) by 7.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 381,579 shares of the construction company’s stock after purchasing an additional 25,447 shares during the period. Invesco Ltd. owned 0.41% of KB Home worth $15,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sovarnum Capital L.P. acquired a new position in shares of KB Home in the 2nd quarter worth approximately $3,339,000. Great West Life Assurance Co. Can lifted its position in shares of KB Home by 17.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 44,128 shares of the construction company’s stock valued at $2,047,000 after acquiring an additional 6,526 shares during the period. California State Teachers Retirement System lifted its position in shares of KB Home by 0.7% during the 1st quarter. California State Teachers Retirement System now owns 134,437 shares of the construction company’s stock valued at $6,255,000 after acquiring an additional 880 shares during the period. Vanguard Group Inc. lifted its position in shares of KB Home by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,227,362 shares of the construction company’s stock valued at $335,018,000 after acquiring an additional 154,533 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of KB Home by 17.1% during the 2nd quarter. Empowered Funds LLC now owns 91,430 shares of the construction company’s stock valued at $3,723,000 after acquiring an additional 13,332 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

NYSE KBH opened at $43.54 on Thursday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 8.31, a PEG ratio of 0.20 and a beta of 1.75. KB Home has a 52 week low of $31.76 and a 52 week high of $52.48. The firm’s 50-day simple moving average is $41.22.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 21st. The construction company reported $1.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.56 billion. KB Home had a net margin of 9.47% and a return on equity of 17.97%. The company’s revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, analysts anticipate that KB Home will post 5.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Thursday, November 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, November 9th. KB Home’s dividend payout ratio (DPR) is presently 11.45%.

A number of analysts have commented on KBH shares. JPMorgan Chase & Co. decreased their price target on shares of KB Home from $59.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, October 14th. Zacks Investment Research upgraded shares of KB Home from a “sell” rating to a “hold” rating and set a $43.00 target price for the company in a research note on Tuesday, September 28th. Royal Bank of Canada upped their target price on shares of KB Home from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 23rd. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of KB Home in a research note on Thursday, November 11th. Finally, Bank of America started coverage on shares of KB Home in a research note on Monday, November 8th. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $51.00.

In other news, CEO Jeffrey T. Mezger sold 166,861 shares of the stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $42.66, for a total value of $7,118,290.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas W. Gilligan sold 35,222 shares of the stock in a transaction dated Thursday, October 14th. The stock was sold at an average price of $40.49, for a total transaction of $1,426,138.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 362,861 shares of company stock worth $15,267,641. Insiders own 4.40% of the company’s stock.

KB Home Company Profile

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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