New York State Common Retirement Fund Increases Stake in KB Home (KBH)
New York State Common Retirement Fund lifted its stake in shares of KB Home (NYSE:KBH) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,014 shares of the construction company’s stock after purchasing an additional 7,166 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of KB Home worth $3,045,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Yorktown Management & Research Co Inc acquired a new position in shares of KB Home during the second quarter worth approximately $201,000. Amalgamated Bank lifted its position in shares of KB Home by 2.5% during the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock worth $286,000 after purchasing an additional 289 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of KB Home by 77.7% during the second quarter. Nationwide Fund Advisors now owns 336,780 shares of the construction company’s stock worth $8,073,000 after purchasing an additional 147,223 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of KB Home by 39.3% during the second quarter. Ameriprise Financial Inc. now owns 326,767 shares of the construction company’s stock worth $7,833,000 after purchasing an additional 92,111 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of KB Home during the second quarter worth approximately $3,799,000. Institutional investors own 97.28% of the company’s stock.
In related news, SVP William R. Hollinger sold 57,405 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the transaction, the senior vice president now owns 214,306 shares in the company, valued at approximately $4,969,756.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian J. Woram sold 49,529 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total transaction of $1,342,731.19. The disclosure for this sale can be found here. Insiders have sold a total of 656,934 shares of company stock worth $15,675,453 in the last quarter. 8.60% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on KBH. Wedbush lowered shares of KB Home from an “outperform” rating to a “neutral” rating in a research report on Thursday. Bank of America Corporation upped their target price on shares of KB Home from $17.00 to $19.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 28th. BidaskClub lowered shares of KB Home from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Finally, Mizuho upgraded shares of KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 target price on the stock in a research report on Friday, September 29th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. KB Home presently has a consensus rating of “Hold” and a consensus target price of $21.93.
Shares of KB Home (KBH) opened at 27.05 on Friday. KB Home has a 12 month low of $14.06 and a 12 month high of $27.67. The company has a market cap of $2.34 billion, a P/E ratio of 19.38 and a beta of 1.54. The stock’s 50 day moving average is $23.60 and its 200 day moving average is $22.35.
KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts anticipate that KB Home will post $1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.37%. KB Home’s payout ratio is presently 7.19%.
KB Home 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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