Federated Hermes Inc. Purchases 34,647 Shares of KB Home (NYSE:KBH)

Federated Hermes Inc. increased its position in KB Home (NYSE:KBH) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,009 shares of the construction company’s stock after purchasing an additional 34,647 shares during the quarter. Federated Hermes Inc. owned approximately 0.20% of KB Home worth $9,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KBH. Fifth Third Bancorp lifted its position in KB Home by 40.9% in the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock worth $43,000 after purchasing an additional 270 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of KB Home during the fourth quarter valued at $56,000. Whittier Trust Co. bought a new position in shares of KB Home during the fourth quarter valued at $62,000. CI Investments Inc. bought a new position in shares of KB Home during the third quarter valued at $145,000. Finally, NBC Securities Inc. bought a new position in shares of KB Home during the third quarter valued at $196,000. 96.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the transaction, the chief executive officer now owns 1,491,298 shares in the company, valued at $88,583,101.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the transaction, the chief executive officer now owns 1,491,298 shares in the company, valued at $88,583,101.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,294,522.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 347,936 shares of company stock worth $21,090,453. Insiders own 4.44% of the company’s stock.

KB Home Stock Up 4.7 %

Shares of KBH stock opened at $65.61 on Wednesday. KB Home has a 12 month low of $40.97 and a 12 month high of $72.00. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.69 and a beta of 1.73. The stock has a 50-day moving average price of $66.01 and a 200 day moving average price of $59.00.

KB Home (NYSE:KBH) last issued its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business earned $1.45 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that KB Home will post 8.01 earnings per share for the current fiscal year.

KB Home Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is 13.61%.

Wall Street Analyst Weigh In

KBH has been the subject of a number of analyst reports. UBS Group lifted their price objective on KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Wedbush raised their target price on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. StockNews.com lowered KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods raised their target price on KB Home from $67.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada raised their target price on KB Home from $63.00 to $69.00 and gave the company a “sector perform” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.11.

About KB Home

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.