International Assets Investment Management LLC Takes $4.23 Million Position in KB Home $KBH

International Assets Investment Management LLC acquired a new stake in shares of KB Home (NYSE:KBH) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 75,029 shares of the construction company’s stock, valued at approximately $4,232,000.

A number of other large investors have also recently made changes to their positions in KBH. Freestone Grove Partners LP purchased a new stake in shares of KB Home during the third quarter valued at $111,050,000. Bank of America Corp DE grew its holdings in shares of KB Home by 36.4% during the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after buying an additional 275,965 shares during the last quarter. UBS Group AG grew its holdings in shares of KB Home by 22.8% during the third quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock valued at $51,875,000 after buying an additional 151,202 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of KB Home by 13.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock valued at $59,472,000 after buying an additional 122,457 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in KB Home by 312.7% in the third quarter. Russell Investments Group Ltd. now owns 156,416 shares of the construction company’s stock valued at $9,954,000 after purchasing an additional 118,515 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Performance

NYSE:KBH opened at $49.22 on Friday. KB Home has a one year low of $47.95 and a one year high of $68.71. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 8.77 and a beta of 1.42. The firm’s fifty day moving average is $54.03 and its two-hundred day moving average is $58.73.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. As a group, equities research analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, May 7th. KB Home’s dividend payout ratio is presently 25.38%.

Wall Street Analyst Weigh In

KBH has been the topic of several recent research reports. Wall Street Zen lowered shares of KB Home from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Wells Fargo & Company lowered their price target on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, March 25th. Truist Financial lowered their price target on shares of KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Monday. Bank of America lowered their price target on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Finally, Seaport Research Partners reaffirmed a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.17.

KB Home 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.