Nisa Investment Advisors LLC Has $818,000 Stake in KB Home (KBH)
Nisa Investment Advisors LLC lowered its stake in KB Home (NYSE:KBH) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 36,600 shares of the construction company’s stock after selling 300 shares during the period. Nisa Investment Advisors LLC’s holdings in KB Home were worth $818,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Karp Capital Management Corp bought a new position in shares of KB Home during the first quarter valued at about $3,958,000. CIBC World Markets Inc. raised its position in shares of KB Home by 1.9% in the first quarter. CIBC World Markets Inc. now owns 181,287 shares of the construction company’s stock valued at $3,604,000 after buying an additional 3,302 shares in the last quarter. Norges Bank bought a new position in shares of KB Home during the fourth quarter valued at about $11,457,000. Prudential Financial Inc. raised its position in shares of KB Home by 632.1% in the first quarter. Prudential Financial Inc. now owns 367,064 shares of the construction company’s stock valued at $7,297,000 after buying an additional 316,926 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of KB Home during the first quarter valued at about $396,000. 98.82% of the stock is owned by institutional investors and hedge funds.
Shares of KB Home (NYSE KBH) traded up 0.09% during mid-day trading on Monday, hitting $23.45. The stock had a trading volume of 325,057 shares. KB Home has a 1-year low of $14.06 and a 1-year high of $24.37. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 18.07 and a beta of 1.62. The stock’s 50-day moving average is $23.15 and its 200 day moving average is $20.17.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 EPS for the quarter, beating the 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $929.85 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities research analysts predict that KB Home will post $1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, August 1st. KB Home’s payout ratio is currently 7.69%.
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KBH has been the subject of several analyst reports. Deutsche Bank AG raised their target price on KB Home from $20.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, June 30th. Wedbush lowered their target price on KB Home from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, June 15th. Credit Suisse Group initiated coverage on KB Home in a research report on Thursday, June 22nd. They set a “neutral” rating and a $23.00 target price for the company. Barclays PLC reaffirmed a “sell” rating and set a $17.00 target price on shares of KB Home in a research report on Friday, June 30th. Finally, MKM Partners raised KB Home to a “hold” rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Tuesday, June 27th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. KB Home has a consensus rating of “Hold” and a consensus target price of $19.63.
In related news, CFO Jeff Kaminski sold 163,017 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is owned by corporate insiders.
KB Home Company Profile
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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