Bank of New York Mellon Corp Sells 18,816 Shares of KB Home $KBH

Bank of New York Mellon Corp decreased its stake in KB Home (NYSE:KBH) by 3.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 597,793 shares of the construction company’s stock after selling 18,816 shares during the period. Bank of New York Mellon Corp’s holdings in KB Home were worth $30,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp grew its position in shares of KB Home by 178.9% during the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after buying an additional 322 shares during the period. Parkside Financial Bank & Trust raised its position in shares of KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after acquiring an additional 250 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home in the 3rd quarter valued at approximately $36,000. Rothschild Investment LLC boosted its stake in KB Home by 391.0% during the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after acquiring an additional 653 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of KB Home during the third quarter worth $64,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 0.1%

NYSE KBH opened at $56.72 on Monday. KB Home has a 12-month low of $44.03 and a 12-month high of $68.71. The firm’s 50 day moving average is $54.32 and its 200-day moving average is $55.70. The company has a market capitalization of $3.48 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 9.41 and a beta of 1.34.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $1.50 EPS. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, sell-side analysts expect that KB Home will post 3.3 EPS for the current year.

KB Home Announces Dividend

The business also recently announced 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 of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. KB Home’s payout ratio is currently 34.84%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KBH. UBS Group raised their price objective on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Seaport Research Partners reaffirmed a “sell” rating and set a $43.00 price target (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. Truist Financial lifted their price objective on KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 price objective on shares of KB Home in a research report on Wednesday, June 24th. Finally, Weiss Ratings raised shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus target price of $60.17.

KB Home Profile

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.