First Trust Advisors LP raised its stake in KB Home (NYSE:KBH) by 49.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,936 shares of the construction company’s stock after purchasing an additional 25,095 shares during the quarter. First Trust Advisors LP owned 0.09% of KB Home worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of KB Home by 83.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,284 shares of the construction company’s stock worth $137,000 after purchasing an additional 1,947 shares during the last quarter. Strs Ohio purchased a new stake in shares of KB Home in the fourth quarter worth approximately $162,000. Magnetar Financial LLC purchased a new stake in shares of KB Home in the third quarter worth approximately $244,000. DAVENPORT & Co LLC purchased a new stake in shares of KB Home in the fourth quarter worth approximately $244,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of KB Home in the third quarter worth approximately $247,000. 95.68% of the stock is owned by hedge funds and other institutional investors.
In other KB Home news, CFO Jeff Kaminski sold 125,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the completion of the transaction, the chief financial officer now directly owns 237,775 shares of the company’s stock, valued at $7,734,820.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Thomas F. Norton sold 47,179 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $30.32, for a total value of $1,430,467.28. Following the transaction, the senior vice president now directly owns 103,562 shares of the company’s stock, valued at $3,139,999.84. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Wednesday, January 10th. The construction company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. KB Home had a return on equity of 9.93% and a net margin of 4.13%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company earned $0.40 earnings per share. KB Home’s revenue was up 17.7% compared to the same quarter last year. equities research analysts predict that KB Home will post 2.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.35%. The ex-dividend date was Wednesday, February 7th. KB Home’s dividend payout ratio (DPR) is 5.46%.
Several analysts have recently commented on the company. ValuEngine raised KB Home from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Buckingham Research raised KB Home from an “underperform” rating to a “neutral” rating and set a $34.00 price objective for the company in a research note on Friday, January 26th. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and issued a $38.00 price objective (up from $31.00) on shares of KB Home in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Mizuho set a $35.00 price objective on KB Home and gave the stock a “hold” rating in a research note on Thursday, January 18th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.07.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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