Signature Wealth Management Group Raises Stake in KB Home (NYSE:KBH)

Signature Wealth Management Group boosted its position in KB Home (NYSE:KBHGet Rating) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,902 shares of the construction company’s stock after buying an additional 3,734 shares during the period. Signature Wealth Management Group owned approximately 0.07% of KB Home worth $1,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of KBH. Fuller & Thaler Asset Management Inc. boosted its position in KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after buying an additional 1,156,233 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in KB Home by 113.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,003,238 shares of the construction company’s stock worth $44,875,000 after purchasing an additional 533,400 shares in the last quarter. Cobalt Capital Management Inc. purchased a new stake in KB Home in the 1st quarter worth approximately $9,040,000. Artemis Investment Management LLP purchased a new stake in KB Home in the 1st quarter worth approximately $8,452,000. Finally, Renaissance Technologies LLC boosted its position in KB Home by 315.0% in the 4th quarter. Renaissance Technologies LLC now owns 324,100 shares of the construction company’s stock worth $14,497,000 after purchasing an additional 246,000 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

KB Home Trading Down 4.6 %

KB Home stock traded down $1.29 during midday trading on Thursday, reaching $26.73. 162,202 shares of the stock traded hands, compared to its average volume of 1,487,371. The company has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $31.93. KB Home has a 12-month low of $24.78 and a 12-month high of $50.20. The firm has a market cap of $2.33 billion, a PE ratio of 3.84, a price-to-earnings-growth ratio of 0.38 and a beta of 1.64.

KB Home (NYSE:KBHGet Rating) last announced its earnings results on Wednesday, June 22nd. The construction company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.35. KB Home had a return on equity of 21.92% and a net margin of 10.69%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $1.50 EPS. Equities research analysts anticipate that KB Home will post 10.21 earnings per share for the current year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Wednesday, August 3rd. KB Home’s payout ratio is presently 8.22%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company lowered their price objective on KB Home from $40.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, June 17th. Raymond James lowered their price objective on KB Home from $63.00 to $44.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 29th. Bank of America lowered KB Home from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Thursday, August 25th. Credit Suisse Group lowered KB Home from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $35.00 in a research report on Monday, July 11th. Finally, Barclays decreased their target price on KB Home from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

KB Home Company Profile

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KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.

Further Reading

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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