Assenagon Asset Management S.A. Grows Stake in KB Home $KBH

Assenagon Asset Management S.A. increased its holdings in KB Home (NYSE:KBH) by 76.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 529,592 shares of the construction company’s stock after buying an additional 228,853 shares during the period. Assenagon Asset Management S.A.’s holdings in KB Home were worth $33,703,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KBH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in KB Home in the 2nd quarter worth about $44,000. AlphaQuest LLC bought a new position in shares of KB Home in the first quarter worth approximately $60,000. Ameritas Advisory Services LLC purchased a new stake in KB Home in the second quarter valued at approximately $59,000. Hantz Financial Services Inc. lifted its position in KB Home by 1,125.9% during the second quarter. Hantz Financial Services Inc. now owns 1,986 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,824 shares during the last quarter. Finally, Allworth Financial LP lifted its position in KB Home by 75.9% during the second quarter. Allworth Financial LP now owns 2,380 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,027 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

KBH has been the topic of several research reports. Bank of America lowered their price objective on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. UBS Group reissued a “buy” rating and issued a $83.00 target price on shares of KB Home in a research note on Thursday, September 25th. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Royal Bank Of Canada lifted their price target on KB Home from $58.00 to $59.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Finally, Raymond James Financial increased their price objective on KB Home from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, KB Home has an average rating of “Hold” and an average target price of $64.36.

Insider Activity

In related news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.89% of the company’s stock.

KB Home Trading Down 0.3%

Shares of NYSE:KBH opened at $62.78 on Friday. The stock has a market capitalization of $4.07 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 5.12 and a beta of 1.40. The stock’s 50-day moving average price is $62.13 and its 200-day moving average price is $59.96. KB Home has a 12-month low of $48.90 and a 12-month high of $72.64.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $2.04 EPS. KB Home’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, research analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, November 13th. KB Home’s dividend payout ratio is 13.25%.

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.