Assenagon Asset Management S.A. Lowers Stock Position in KB Home $KBH

Assenagon Asset Management S.A. decreased its holdings in KB Home (NYSE:KBH) by 69.3% in the 1st quarter, Holdings Channel reports. The firm owned 58,002 shares of the construction company’s stock after selling 130,961 shares during the period. Assenagon Asset Management S.A.’s holdings in KB Home were worth $3,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. United Services Automobile Association purchased a new stake in KB Home during the 1st quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in KB Home by 5.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock worth $13,108,000 after acquiring an additional 11,103 shares during the period. EverSource Wealth Advisors LLC grew its holdings in KB Home by 23.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock worth $134,000 after acquiring an additional 482 shares during the period. Marshall Wace LLP raised its position in KB Home by 341.2% in the second quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after acquiring an additional 67,023 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in KB Home in the second quarter valued at $711,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analyst Ratings Changes

KBH has been the topic of a number of recent analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Wells Fargo & Company boosted their price objective on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Barclays upped their target price on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. UBS Group increased their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Citigroup reiterated a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, KB Home has an average rating of “Hold” and a consensus target price of $60.17.

KB Home Trading Down 0.1%

Shares of KBH stock opened at $62.57 on Wednesday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 10.54 and a beta of 1.37. The firm has a 50-day moving average price of $52.20 and a 200 day moving average price of $55.98. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 earnings per share. As a group, research analysts predict that KB Home will post 3.25 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s payout ratio is 34.84%.

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.