Invesco Ltd. Trims Stake in KB Home $KBH

Invesco Ltd. reduced its holdings in KB Home (NYSE:KBH) by 34.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,381,562 shares of the construction company’s stock after selling 728,037 shares during the quarter. Invesco Ltd.’s holdings in KB Home were worth $73,181,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Systematic Financial Management LP increased its position in shares of KB Home by 1.5% in the second quarter. Systematic Financial Management LP now owns 499,844 shares of the construction company’s stock worth $26,477,000 after purchasing an additional 7,404 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of KB Home in the 2nd quarter worth $384,000. Van Hulzen Asset Management LLC raised its position in shares of KB Home by 20.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 7,201 shares of the construction company’s stock valued at $381,000 after buying an additional 1,200 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of KB Home by 6,329.8% during the 2nd quarter. Edgestream Partners L.P. now owns 241,953 shares of the construction company’s stock valued at $12,816,000 after buying an additional 238,190 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of KB Home by 6.2% during the 2nd quarter. New York State Common Retirement Fund now owns 34,275 shares of the construction company’s stock worth $1,816,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

KB Home Trading Up 4.4%

KBH stock opened at $64.40 on Thursday. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 5.02 and a beta of 1.40. The firm’s 50-day moving average price is $61.91 and its two-hundred day moving average price is $59.50. KB Home has a 12-month low of $48.90 and a 12-month high of $77.33.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm earned $2.04 earnings per share. KB Home’s quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KBH shares. Wells Fargo & Company increased their target price on KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, September 2nd. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Evercore ISI set a $65.00 price objective on KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. UBS Group restated a “buy” rating and issued a $83.00 target price on shares of KB Home in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.36.

Insider Activity

In related news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.89% of the company’s stock.

About KB Home

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.