KB Home $KBH Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in shares of KB Home (NYSE:KBH) by 76.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,613 shares of the construction company’s stock after buying an additional 27,932 shares during the period. NewEdge Advisors LLC owned approximately 0.09% of KB Home worth $3,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its holdings in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. Sachetta LLC grew its position in KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after purchasing an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in KB Home during the 1st quarter worth approximately $40,000. Byrne Asset Management LLC increased its stake in KB Home by 51.8% during the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock valued at $45,000 after purchasing an additional 264 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock worth $56,000 after buying an additional 221 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Price Performance

NYSE:KBH opened at $66.00 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The company has a 50 day moving average price of $59.38 and a 200-day moving average price of $56.71. KB Home has a 1-year low of $48.90 and a 1-year high of $89.70. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 5.51 and a beta of 1.36.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.KB Home’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 EPS. Equities research analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. KB Home’s dividend payout ratio is currently 13.25%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KBH. Evercore ISI reduced their target price on KB Home from $77.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods cut their price objective on KB Home from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, June 26th. Barclays set a $49.00 target price on KB Home and gave the stock an “equal weight” rating in a report on Tuesday, June 24th. Oppenheimer assumed coverage on shares of KB Home in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Bank of America decreased their price objective on shares of KB Home from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, KB Home has an average rating of “Hold” and an average target price of $66.86.

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer owned 78,345 shares in the company, valued at approximately $4,193,024.40. This represents a 15.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.89% of the company’s stock.

KB Home 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.