The Manufacturers Life Insurance Company Makes New $3.49 Million Investment in KB Home $KBH

The Manufacturers Life Insurance Company acquired a new position in shares of KB Home (NYSE:KBH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,796 shares of the construction company’s stock, valued at approximately $3,492,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of KB Home in the second quarter valued at about $618,489,000. Freestone Grove Partners LP bought a new position in KB Home during the third quarter valued at about $111,050,000. Donald Smith & CO. Inc. bought a new position in KB Home during the second quarter valued at about $108,652,000. Norges Bank acquired a new position in KB Home in the 4th quarter valued at approximately $48,418,000. Finally, Bank of New York Mellon Corp acquired a new position in KB Home in the 2nd quarter valued at approximately $35,837,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Price Performance

NYSE KBH opened at $52.21 on Wednesday. The firm has a market cap of $3.20 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 8.84 and a beta of 1.34. KB Home has a one year low of $44.03 and a one year high of $68.71. The stock’s 50 day simple moving average is $57.08 and its 200 day simple moving average is $54.95.

KB Home (NYSE:KBH) last issued its quarterly earnings data 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). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, equities analysts expect that KB Home will post 3.3 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors 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 1.9%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home’s payout ratio is currently 34.84%.

Analyst Ratings Changes

A number of analysts have commented on KBH shares. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” 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 report on Saturday, June 27th. Barclays upped their target price on KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Finally, UBS Group boosted their price target on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KB Home has an average rating of “Hold” and an average price target of $60.17.

Insider Transactions at KB Home

In related news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction dated Wednesday, August 5th. The stock was 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 in the company, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.69% of the company’s stock.

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.