LSV Asset Management Lowers Stock Holdings in KB Home $KBH

LSV Asset Management lowered its holdings in shares of KB Home (NYSE:KBH) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 951,454 shares of the construction company’s stock after selling 53,146 shares during the quarter. LSV Asset Management’s holdings in KB Home were worth $53,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KBH. United Services Automobile Association purchased a new position in KB Home during the first quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 purchasing an additional 11,103 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 482 shares in the last quarter. Marshall Wace LLP boosted its position in KB Home by 341.2% during the second quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after purchasing an additional 67,023 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in KB Home during the second quarter worth approximately $711,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KBH. Wall Street Zen downgraded KB Home from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. The Goldman Sachs Group lowered their price target on KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. UBS Group lowered their price target on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada lowered their price target on KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 25th. Finally, Citizens Jmp began coverage on KB Home in a research report on Tuesday, March 24th. They set an “outperform” rating and a $77.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, KB Home currently has an average rating of “Hold” and an average price target of $59.17.

KB Home Price Performance

Shares of KB Home stock opened at $48.64 on Monday. The business has a 50 day simple moving average of $51.26 and a two-hundred day simple moving average of $57.52. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The stock has a market capitalization of $3.05 billion, a P/E ratio of 12.34, a PEG ratio of 8.58 and a beta of 1.42.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The business’s revenue was down 22.6% compared to the same quarter last year. As a group, research analysts anticipate that KB Home will post 3.1 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. KB Home’s dividend payout ratio is presently 25.38%.

KB Home Profile

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.