Penserra Capital Management LLC Increases Stock Holdings in KB Home $KBH

Penserra Capital Management LLC boosted its stake in KB Home (NYSE:KBH) by 25.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,447 shares of the construction company’s stock after buying an additional 1,894 shares during the quarter. Penserra Capital Management LLC’s holdings in KB Home were worth $500,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Sachetta LLC grew its stake in shares of KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after acquiring an additional 660 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of KB Home during the first quarter valued at about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in KB Home during the second quarter worth about $44,000. Manchester Capital Management LLC grew its position in KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company’s stock worth $56,000 after purchasing an additional 221 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in KB Home in the 2nd quarter valued at about $59,000. 96.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KBH. JPMorgan Chase & Co. cut their target price on KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Oppenheimer started coverage on KB Home in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Evercore ISI set a $65.00 price objective on KB Home and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada raised their target price on KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a research report on Thursday, September 25th. Finally, Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.36.

Insider Buying and Selling

In related news, EVP Albert Z. Praw sold 20,284 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. This trade represents a 16.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.89% of the company’s stock.

KB Home Price Performance

Shares of NYSE KBH opened at $61.50 on Wednesday. The stock has a market capitalization of $3.98 billion, a PE ratio of 8.15, a P/E/G ratio of 5.17 and a beta of 1.36. KB Home has a one year low of $48.90 and a one year high of $85.66. The business’s fifty day moving average price is $63.01 and its 200-day moving average price is $58.30.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $2.04 EPS. As a group, equities analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 dividend yield of 1.6%. The ex-dividend date is Thursday, November 13th. KB Home’s dividend payout ratio is presently 13.25%.

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.