Horizon Investment Services LLC Purchases New Holdings in KB Home (KBH)
Horizon Investment Services LLC acquired a new position in KB Home (NYSE:KBH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 112,295 shares of the construction company’s stock, valued at approximately $2,692,000. Horizon Investment Services LLC owned about 0.13% of KB Home as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Creative Planning lifted its position in KB Home by 34.9% during the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after acquiring an additional 1,110 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings 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 purchasing an additional 639 shares during the last quarter. Victory Capital Management Inc. grew its holdings 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 purchasing an additional 2,020 shares during the last quarter. LS Investment Advisors LLC grew its holdings 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 purchasing an additional 991 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in KB Home by 28.7% in the first quarter. Lazard Asset Management LLC now owns 9,418 shares of the construction company’s stock worth $187,000 after purchasing an additional 2,100 shares during the last quarter. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on KBH. Zacks Investment Research raised KB Home from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday. Bank of America Corporation increased their price target on KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a research note on Wednesday, June 28th. BidaskClub downgraded KB Home from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Mizuho raised KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 price target for the company in a report on Friday, September 29th. Finally, Wedbush set a $22.00 price target on KB Home and gave the stock a “buy” rating in a research note on Thursday, June 15th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. KB Home currently has an average rating of “Hold” and a consensus price target of $21.93.
In related news, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total value of $1,331,221.95. Following the sale, the senior vice president now directly owns 214,306 shares in the company, valued at $4,969,756.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $9,124,000.00. Following the completion of the sale, the insider now owns 682,996 shares in the company, valued at $15,579,138.76. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
KB Home (NYSE:KBH) traded up 2.92% during trading on Wednesday, reaching $25.37. The company had a trading volume of 2,426,020 shares. KB Home has a 1-year low of $14.06 and a 1-year high of $25.48. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 18.13 and a beta of 1.54. The firm has a 50-day moving average of $21.89 and a 200-day moving average of $21.72.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Thursday, September 28th. The construction company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts anticipate that KB Home will post $1.73 EPS for the current fiscal year.
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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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