GSA Capital Partners LLP Makes New $2.76 Million Investment in KB Home $KBH

GSA Capital Partners LLP purchased a new position in KB Home (NYSE:KBH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,123 shares of the construction company’s stock, valued at approximately $2,762,000. GSA Capital Partners LLP owned about 0.07% of KB Home at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Freestone Grove Partners LP bought a new stake in KB Home in the 3rd quarter worth about $111,050,000. Norges Bank bought a new position in KB Home during the 4th quarter valued at about $48,418,000. Donald Smith & CO. Inc. boosted its holdings in shares of KB Home by 387.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock valued at $40,919,000 after acquiring an additional 576,694 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of KB Home by 102.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock valued at $52,584,000 after acquiring an additional 471,598 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of KB Home by 519.2% in the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock worth $19,954,000 after acquiring an additional 296,615 shares during the period. 96.09% of the stock is owned by institutional investors.

KB Home Stock Down 0.5%

KBH stock opened at $56.02 on Friday. The business’s 50-day moving average price is $56.66 and its 200-day moving average price is $55.39. The stock has a market cap of $3.43 billion, a P/E ratio of 19.52, a PEG ratio of 9.30 and a beta of 1.35. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company posted $1.50 earnings per share. The company’s revenue was down 27.3% compared to the same quarter last year. On average, equities research analysts expect that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is 34.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KBH shares. Truist Financial boosted their price objective on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Citigroup restated a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Wells Fargo & Company lifted their target price on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 24th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, UBS Group increased their price target on KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.17.

Insider Buying and Selling

In other KB Home news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director directly owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This trade represents a 17.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.69% of the stock is currently owned by insiders.

KB Home Company 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.