Great Lakes Advisors LLC Takes $4.47 Million Position in KB Home $KBH

Great Lakes Advisors LLC acquired a new stake in KB Home (NYSE:KBH) in the second quarter, Holdings Channel reports. The firm acquired 71,416 shares of the construction company’s stock, valued at approximately $4,470,000.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of KB Home in the 4th quarter valued at about $4,232,000. M&T Bank Corp raised its position in shares of KB Home by 673.5% during the fourth quarter. M&T Bank Corp now owns 49,046 shares of the construction company’s stock worth $2,767,000 after acquiring an additional 42,705 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of KB Home during the fourth quarter worth about $1,292,000. 1492 Capital Management LLC acquired a new position in shares of KB Home in the first quarter worth approximately $3,038,000. Finally, SummitTX Capital L.P. acquired a new position in shares of KB Home in the first quarter worth approximately $1,771,000. 96.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Albert Z. Praw sold 22,015 shares of the firm’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 transaction, the executive vice president 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur Reginald Collins sold 4,000 shares of the business’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 sale, the director directly owned 9,157 shares of the company’s stock, valued at $521,582.72. This represents a 30.40% 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 company insiders.

Analyst Ratings Changes

KBH has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Barclays boosted their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $53.00 price objective on shares of KB Home in a research report on Wednesday, June 24th. Finally, Weiss Ratings raised shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and an average target price of $60.17.

KB Home Stock Performance

Shares of KBH opened at $56.39 on Thursday. The firm has a market cap of $3.46 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 8.95 and a beta of 1.35. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71. The business’s 50 day moving average price is $56.83 and its two-hundred day moving average price is $55.31.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. The business’s quarterly revenue was down 27.3% on a year-over-year basis. Research analysts predict that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend 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%.

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.