Whittier Trust Co. Continues to Hold Stake in KB Home (KBH)
Whittier Trust Co. maintained its position in shares of KB Home (NYSE:KBH) during the second quarter, Holdings Channel reports. The institutional investor owned 10,761 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in KB Home were worth $164,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of KB Home during the second quarter worth approximately $219,000. Seven Eight Capital LLC acquired a new position in shares of KB Home during the first quarter worth approximately $219,000. Balasa Dinverno & Foltz LLC acquired a new position in shares of KB Home during the second quarter worth approximately $469,000. Bayesian Capital Management LP acquired a new position in shares of KB Home during the first quarter worth approximately $441,000. Finally, BlackRock Inc. increased its position in shares of KB Home by 4.0% in the first quarter. BlackRock Inc. now owns 33,585 shares of the company’s stock worth $480,000 after buying an additional 1,290 shares during the period. 92.39% of the stock is owned by institutional investors.
KB Home (NYSE:KBH) traded up 0.51% during midday trading on Friday, hitting $15.70. 1,608,923 shares of the stock traded hands. The company has a market cap of $1.33 billion, a P/E ratio of 13.59 and a beta of 1.99. The company’s 50 day moving average is $15.63 and its 200-day moving average is $14.91. KB Home has a one year low of $9.04 and a one year high of $16.76.
KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The business earned $913.30 million during the quarter. KB Home had a net margin of 3.31% and a return on equity of 6.77%. KB Home’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. On average, equities research analysts forecast that KB Home will post $1.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.64%. KB Home’s dividend payout ratio (DPR) is currently 8.62%.
A number of equities analysts recently commented on the stock. Buckingham Research downgraded shares of KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Monday, July 18th. MKM Partners reaffirmed a “hold” rating on shares of KB Home in a research report on Wednesday, June 22nd. Bank of America Corp. reaffirmed a “sell” rating and set a $12.50 price target on shares of KB Home in a research report on Wednesday, September 21st. RBC Capital Markets reaffirmed a “sector perform” rating and set a $17.00 price target (up from $16.00) on shares of KB Home in a research report on Thursday, September 22nd. Finally, FBR & Co reaffirmed a “market perform” rating and set a $16.00 price target on shares of KB Home in a research report on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.43.
In related news, insider Jeffrey T. Mezger sold 500,000 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $16.47, for a total value of $8,235,000.00. Following the completion of the sale, the insider now directly owns 606,716 shares of the company’s stock, valued at $9,992,612.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey T. Mezger sold 110,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $16.39, for a total transaction of $1,802,900.00. Following the completion of the sale, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at $9,944,075.24. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
About KB Home
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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