KB Home (NYSE:KBH) Reaches New 12-Month Low – Here’s What Happened

KB Home (NYSE:KBH) shares reached a new 52-week low on Wednesday. The stock traded as low as $44.03 and last traded at $44.0570, with a volume of 106760 shares traded. The stock had previously closed at $45.40.

Analyst Ratings Changes

KBH has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of KB Home from $55.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. Morgan Stanley started coverage on shares of KB Home in a report on Thursday, October 1st. They issued an “underweight” rating and a $39.00 target price on the stock. Wells Fargo & Company cut their target price on shares of KB Home from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, September 11th. Melius Research assumed coverage on KB Home in a research report on Tuesday. They issued a “sell” rating and a $43.00 price target on the stock. Finally, Barclays cut their price objective on KB Home from $57.00 to $49.00 and set an “overweight” rating for the company in a research report on Wednesday, September 23rd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and an average target price of $53.08.

KB Home Stock Down 3.8%

The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 2.34 and a beta of 1.34. The business has a 50-day moving average of $52.24 and a two-hundred day moving average of $52.84.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. KB Home had a return on equity of 6.56% and a net margin of 4.39%.The firm’s quarterly revenue was down 20.0% compared to the same quarter last year. During the same period last year, the company posted $1.61 earnings per share. Equities analysts predict that KB Home will post 3.25 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is presently 28.17%.

Insider Transactions at KB Home

In other KB Home news, 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 value of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur Collins sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the sale, the director owned 9,157 shares in the company, valued at approximately $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. boosted 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 acquiring an additional 220 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of KB Home by 3.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,446 shares of the construction company’s stock worth $466,000 after purchasing an additional 252 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of KB Home by 15.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,275 shares of the construction company’s stock worth $128,000 after purchasing an additional 304 shares during the period. Eastern Bank acquired a new stake in shares of KB Home during the second quarter worth $26,000. Finally, Cim Investment Management Inc. boosted its holdings in shares of KB Home by 7.3% during the second quarter. Cim Investment Management Inc. now owns 7,802 shares of the construction company’s stock worth $488,000 after purchasing an additional 528 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

KB Home Company Profile

KB Home is a national homebuilder that designs, constructs and sells single-family homes and townhomes. The company offers homes in a range of floor plans, sizes and price points, with options that allow buyers to personalize features and finishes. Its communities typically include amenities such as parks, open spaces and other neighborhood improvements.

Founded in 1957, KB Home is headquartered in Los Angeles, California. The company serves residential markets across the United States, including Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.