Dorsey Wright & Associates Takes $3.80 Million Position in KB Home (KBH)
Dorsey Wright & Associates acquired a new stake in KB Home (NYSE:KBH) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 158,482 shares of the construction company’s stock, valued at approximately $3,799,000. KB Home accounts for 1.5% of Dorsey Wright & Associates’ investment portfolio, making the stock its 20th biggest holding. Dorsey Wright & Associates owned about 0.19% of KB Home as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in KBH. Creative Planning lifted its stake in shares of KB Home by 34.9% in the 2nd quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after purchasing an additional 1,110 shares during the period. Flinton Capital Management LLC increased its position in KB Home by 22.6% in the 1st quarter. Flinton Capital Management LLC now owns 5,542 shares of the construction company’s stock valued at $110,000 after buying an additional 1,020 shares in the last quarter. Envestnet Asset Management Inc. increased its position in KB Home by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock valued at $134,000 after buying an additional 639 shares in the last quarter. Victory Capital Management Inc. increased its position in KB Home by 40.2% in the 1st quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock valued at $140,000 after buying an additional 2,020 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in KB Home by 18.0% in the 2nd quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock valued at $156,000 after buying an additional 991 shares in the last quarter. 98.37% of the stock is currently owned by institutional investors.
KB Home (NYSE:KBH) traded up 0.41% during trading on Wednesday, hitting $21.93. The stock had a trading volume of 797,731 shares. KB Home has a 1-year low of $14.06 and a 1-year high of $24.37. The stock’s 50-day moving average price is $22.46 and its 200-day moving average price is $21.31. The company has a market capitalization of $1.88 billion, a P/E ratio of 16.90 and a beta of 1.60.
KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $929.85 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. Analysts expect that KB Home will post $1.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.46%. KB Home’s payout ratio is 7.69%.
A number of analysts recently commented on KBH shares. Deutsche Bank AG boosted their target price on KB Home from $20.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Mizuho started coverage on KB Home in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $20.00 target price for the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of KB Home in a research report on Tuesday, August 29th. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Finally, Credit Suisse Group started coverage on KB Home in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 target price for the company. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.88.
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In other news, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the completion of the transaction, the chief financial officer now directly owns 178,251 shares in the company, valued at $4,171,073.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey T. Mezger sold 400,000 shares of KB Home stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the transaction, the insider now owns 682,996 shares of the company’s stock, valued at $15,579,138.76. The disclosure for this sale can be found here. Insiders have sold 620,422 shares of company stock valued at $14,269,820 over the last quarter. Company insiders own 8.60% of the company’s stock.
KB Home Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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