Louisiana State Employees Retirement System Increases Stake in KB Home (KBH)
Louisiana State Employees Retirement System increased its stake in KB Home (NYSE:KBH) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,700 shares of the construction company’s stock after buying an additional 700 shares during the period. Louisiana State Employees Retirement System’s holdings in KB Home were worth $520,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in 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 in the last quarter. Oregon Public Employees Retirement Fund raised its stake in KB Home by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 30,391 shares of the construction company’s stock valued at $728,000 after buying an additional 1,291 shares in the last quarter. James Investment Research Inc. bought a new stake in KB Home during the second quarter valued at $1,484,000. Meeder Asset Management Inc. raised its stake in KB Home by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 48,655 shares of the construction company’s stock valued at $1,167,000 after buying an additional 204 shares in the last quarter. Finally, Creative Planning raised its stake in 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 in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.
Shares of KB Home (KBH) traded up 0.49% during mid-day trading on Friday, hitting $22.61. The company had a trading volume of 787,746 shares. The firm’s 50-day moving average price is $23.38 and its 200 day moving average price is $20.43. The company has a market capitalization of $1.93 billion, a P/E ratio of 17.42 and a beta of 1.62. KB Home has a one year low of $14.06 and a one year high of $24.37.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 EPS for the quarter, topping 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 company 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 business posted $0.17 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. Analysts predict that KB Home will post $1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.44%. KB Home’s dividend payout ratio is 7.69%.
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Several equities research analysts have recently weighed in on the company. BidaskClub lowered KB Home from a “strong-buy” rating to a “buy” rating in a research note on Friday. Barclays PLC cut KB Home to a “sell” rating in a research report on Tuesday, July 11th. Mizuho cut KB Home from a “neutral” rating to an “underperform” rating and set a $21.00 target price for the company. in a research report on Monday, July 10th. 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. 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.63.
In other 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 transaction of $3,814,597.80. Following the completion of the transaction, the chief financial officer now directly owns 178,251 shares in the company, valued at approximately $4,171,073.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.60% of the company’s stock.
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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