Kingsview Wealth Management LLC Invests $1.04 Million in KB Home $KBH

Kingsview Wealth Management LLC purchased a new stake in KB Home (NYSE:KBH) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,565 shares of the construction company’s stock, valued at approximately $1,037,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in KB Home during the second quarter worth approximately $580,000. United Capital Financial Advisors LLC purchased a new position in shares of KB Home in the 2nd quarter valued at $287,000. Bamco Inc. NY acquired a new stake in KB Home during the 2nd quarter worth $37,500,000. Bank of America Corp DE purchased a new stake in KB Home in the second quarter valued at $35,377,000. Finally, Basswood Capital Management L.L.C. acquired a new position in KB Home in the second quarter valued at $1,848,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays lifted their target price on KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $53.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Finally, Truist Financial raised their price target on KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus price target of $60.17.

KB Home Stock Up 0.3%

NYSE KBH opened at $54.91 on Friday. The stock 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 52-week low of $44.03 and a 52-week high of $68.71. The firm has a 50-day moving average price of $57.07 and a 200 day moving average price of $55.14.

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

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued 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 was Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is currently 34.84%.

Insider Activity

In related news, 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 transaction of $1,292,280.50. Following the sale, the executive vice president owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director owned 9,157 shares in the company, valued at approximately $521,582.72. This represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.69% of the stock is owned by company 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.