KB Home (NYSE:KBH) Hits New 52-Week High at $27.72
KB Home (NYSE:KBH)’s share price hit a new 52-week high on Monday . The stock traded as high as $27.72 and last traded at $27.62, with a volume of 52943 shares changing hands. The stock had previously closed at $26.85.
Several analysts have weighed in on KBH shares. Evercore ISI raised KB Home from an “in-line” rating to an “outperform” rating and set a $26.74 target price on the stock in a research note on Wednesday, July 17th. SunTrust Banks started coverage on KB Home in a research note on Monday, August 12th. They set a “buy” rating and a $35.00 target price on the stock. Barclays raised KB Home from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $29.00 in a research note on Monday, May 13th. Wedbush reaffirmed a “neutral” rating and set a $22.00 target price (down previously from $25.00) on shares of KB Home in a research note on Thursday, June 27th. Finally, BTIG Research raised KB Home from a “sell” rating to a “neutral” rating and set a $25.73 target price on the stock in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $26.82.
The stock has a 50 day moving average price of $26.49 and a 200 day moving average price of $25.15. The company has a market cap of $2.37 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.14 and a beta of 1.39.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from KB Home’s previous quarterly dividend of $0.03. KB Home’s payout ratio is currently 12.77%.
In other news, Director Melissa Lora sold 3,291 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $26.86, for a total value of $88,396.26. Following the sale, the director now owns 169,994 shares of the company’s stock, valued at approximately $4,566,038.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian J. Woram sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $28.02, for a total value of $280,200.00. Following the completion of the sale, the executive vice president now directly owns 151,770 shares in the company, valued at approximately $4,252,595.40. The disclosure for this sale can be found here. 7.32% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in shares of KB Home in the 1st quarter worth $59,000. New York State Common Retirement Fund grew its holdings in shares of KB Home by 4.1% in the 1st quarter. New York State Common Retirement Fund now owns 113,095 shares of the construction company’s stock worth $2,734,000 after acquiring an additional 4,500 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of KB Home in the 1st quarter worth $70,000. BNP Paribas Arbitrage SA grew its holdings in shares of KB Home by 490.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 100,258 shares of the construction company’s stock worth $2,423,000 after acquiring an additional 83,269 shares during the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of KB Home by 1.9% in the 1st quarter. Texas Permanent School Fund now owns 57,458 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 85.16% of the company’s stock.
About KB Home (NYSE:KBH)
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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