Man Group plc Takes Position in KB Home $KBH

Man Group plc purchased a new position in shares of KB Home (NYSE:KBH) during the second quarter, HoldingsChannel reports. The firm purchased 71,899 shares of the construction company’s stock, valued at approximately $4,500,000.

Several other institutional investors also recently modified their holdings of KBH. Great Lakes Advisors LLC acquired a new position in KB Home during the 2nd quarter worth about $4,470,000. International Assets Investment Management LLC acquired a new stake in KB Home during the 4th quarter valued at approximately $4,232,000. Fifth Third Bancorp boosted its stake in shares of KB Home by 2,016.1% in the 1st quarter. Fifth Third Bancorp now owns 24,864 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 23,689 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of KB Home during the first quarter worth $1,771,000. Finally, 1492 Capital Management LLC acquired a new stake in shares of KB Home during the first quarter worth $3,038,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.1%

NYSE:KBH opened at $54.91 on Monday. The company has a fifty day moving average of $57.07 and a 200-day moving average of $55.10. The firm has a market capitalization of $3.37 billion, a P/E ratio of 19.13, a P/E/G ratio of 9.10 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 analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, analysts anticipate that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. KB Home’s dividend payout ratio is currently 34.84%.

Insider Activity

In other news, Director Arthur Reginald Collins sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 9,157 shares in the company, valued at $521,582.72. This trade represents a 30.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Albert Z. Praw sold 22,015 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KBH has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings raised shares of KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Citigroup reissued a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Finally, Truist Financial boosted their price objective on KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, June 24th. Four 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 company. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and an average price target of $60.17.

About KB Home

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.