Brandywine Global Investment Management LLC Sells 13,263 Shares of KB Home (KBH)
Brandywine Global Investment Management LLC lowered its stake in shares of KB Home (NYSE:KBH) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 338,546 shares of the construction company’s stock after selling 13,263 shares during the quarter. Brandywine Global Investment Management LLC owned 0.40% of KB Home worth $8,115,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in KB Home by 34.9% during the 2nd quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after buying an additional 1,110 shares during the period. LS Investment Advisors LLC lifted its position in KB Home by 18.0% in the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock worth $156,000 after buying an additional 991 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in KB Home by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock worth $134,000 after buying an additional 639 shares during the last quarter. Victory Capital Management Inc. lifted its position in KB Home by 40.2% in the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock worth $140,000 after buying an additional 2,020 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new stake in KB Home in the second quarter worth $201,000. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KB Home (KBH) opened at 24.70 on Tuesday. The company has a 50-day moving average of $21.84 and a 200-day moving average of $21.68. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.66 and a beta of 1.53. KB Home has a 1-year low of $14.06 and a 1-year high of $24.79.
KB Home (NYSE:KBH) last announced its earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, equities research analysts expect that KB Home will post $1.73 EPS for the current fiscal year.
Several research analysts have commented on KBH shares. Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Wedbush set a $22.00 target price on shares of KB Home and gave the company a “buy” rating in a research note on Thursday, June 15th. Credit Suisse Group started coverage on shares of KB Home in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 target price on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $25.00 target price (up previously from $22.00) on shares of KB Home in a report on Friday, June 23rd. Finally, Bank of America Corporation raised their target price on shares of KB Home from $17.00 to $19.00 and gave the stock an “underperform” rating in a report on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.60.
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In other news, insider Jeffrey T. Mezger sold 400,000 shares of KB Home stock in a transaction on Monday, August 14th. The stock was sold at an average price of $22.81, for a total value of $9,124,000.00. Following the completion of the sale, the insider now directly owns 682,996 shares of the company’s stock, valued at $15,579,138.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total value of $1,331,221.95. Following the completion of the sale, the senior vice president now directly owns 214,306 shares of the company’s stock, valued at $4,969,756.14. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
About KB Home
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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