Whittier Trust Co. Continues to Hold Stake in KB Home (NYSE:KBH)
Whittier Trust Co. continued to hold its position in shares of KB Home (NYSE:KBH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,761 shares of the construction company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in KB Home were worth $258,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning raised its position in shares of KB Home by 34.9% in the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after buying an additional 1,110 shares during the period. Flinton Capital Management LLC raised its position in shares of KB Home by 22.6% in the first quarter. Flinton Capital Management LLC now owns 5,542 shares of the construction company’s stock valued at $110,000 after buying an additional 1,020 shares during the period. LS Investment Advisors LLC raised its position in shares of KB Home by 18.0% in the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock valued at $156,000 after buying an additional 991 shares during the period. Envestnet Asset Management Inc. raised its position in shares of KB Home by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock valued at $134,000 after buying an additional 639 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of KB Home by 40.2% in the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock valued at $140,000 after buying an additional 2,020 shares during the period. Institutional investors and hedge funds own 98.67% of the company’s stock.
KB Home (NYSE KBH) opened at 23.45 on Tuesday. The company has a 50-day moving average of $22.84 and a 200-day moving average of $19.87. KB Home has a 52 week low of $14.06 and a 52 week high of $24.37. The company has a market cap of $2.01 billion, a P/E ratio of 18.07 and a beta of 1.63.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $929.85 million. During the same period last year, the business earned $0.17 EPS. The company’s revenue was up 23.7% on a year-over-year basis. On average, equities research analysts predict that KB Home will post $1.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.025 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.43%. KB Home’s payout ratio is 7.69%.
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Several research analysts have issued reports on the company. UBS AG upgraded KB Home from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 13th. Barclays PLC downgraded shares of KB Home to a “sell” rating in a research note on Tuesday, July 11th. Wedbush set a $22.00 price target on shares of KB Home and gave the company a “buy” rating in a research note on Thursday, June 15th. Mizuho downgraded shares of KB Home from a “neutral” rating to an “underperform” rating and set a $21.00 price target for the company. in a research note on Monday, July 10th. Finally, Bank of America Corporation lifted their price target on shares of KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a research note on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. KB Home presently has a consensus rating of “Hold” and a consensus target price of $19.63.
In other news, CFO Jeff Kaminski sold 163,017 shares of the firm’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $23.40, for a total value of $3,814,597.80. Following the sale, the chief financial officer now directly owns 178,251 shares in the company, valued at approximately $4,171,073.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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