Donald Smith & CO. Inc. Purchases Shares of 1,735,927 KB Home $KBH

Donald Smith & CO. Inc. purchased a new stake in KB Home (NYSE:KBH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,735,927 shares of the construction company’s stock, valued at approximately $108,652,000. KB Home comprises 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 25th biggest position. Donald Smith & CO. Inc. owned approximately 2.83% of KB Home at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KBH. Eastern Bank acquired a new stake in KB Home during the 2nd quarter valued at $26,000. Bessemer Group Inc. increased its position in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after buying an additional 220 shares in the last quarter. First Horizon Corp raised its holdings in shares of KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after acquiring an additional 250 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of KB Home in the third quarter valued at $36,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Up 1.8%

Shares of KB Home stock opened at $55.45 on Friday. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $68.71. The firm has a market cap of $3.40 billion, a PE ratio of 19.32, a P/E/G ratio of 9.03 and a beta of 1.35. The business’s fifty day moving average is $56.86 and its two-hundred day moving average is $55.29.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.KB Home’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 EPS. Equities research analysts anticipate that KB Home will post 3.3 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is presently 34.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KBH. Zacks Research raised KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Weiss Ratings raised shares of KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. UBS Group upped their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Truist Financial upped their target price on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Finally, Barclays raised their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.17.

Insider Transactions at KB Home

In other news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares of the company’s stock, valued at $521,582.72. This represents a 30.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the transaction, the executive vice president owned 104,062 shares in the company, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.69% of the stock is currently owned by company insiders.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.