Bank of New York Mellon Corp Raises Position in KB Home $KBH

Bank of New York Mellon Corp grew its position in shares of KB Home (NYSE:KBH) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 766,974 shares of the construction company’s stock after purchasing an additional 3,308 shares during the period. Bank of New York Mellon Corp owned approximately 1.13% of KB Home worth $40,627,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KBH. Sachetta LLC lifted its position in shares of KB Home by 3,142.9% during the first 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 acquired a new stake in shares of KB Home during the 1st quarter valued at approximately $40,000. Manchester Capital Management LLC lifted its stake in KB Home by 30.1% during the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock worth $56,000 after purchasing an additional 221 shares during the last quarter. AlphaQuest LLC bought a new stake in KB Home during the first quarter valued at $60,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of KB Home during the 2nd quarter valued at about $59,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KB Home

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. The trade was a 16.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KBH has been the subject of a number of analyst reports. Oppenheimer assumed coverage on KB Home in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Raymond James Financial boosted their price objective on KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Royal Bank Of Canada raised their price target on KB Home from $58.00 to $59.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Finally, UBS Group restated a “buy” rating and issued a $83.00 price objective on shares of KB Home in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus target price of $64.36.

KB Home Price Performance

KB Home stock opened at $61.26 on Thursday. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $85.66. The firm has a market capitalization of $3.97 billion, a PE ratio of 8.11, a P/E/G ratio of 5.17 and a beta of 1.36. The company’s 50-day moving average is $62.96 and its 200-day moving average is $58.33.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.11. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. As a group, analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid 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 is Thursday, November 13th. KB Home’s payout ratio is 13.25%.

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.