KB Home (KBH) Stake Decreased by ProShare Advisors LLC
ProShare Advisors LLC lessened its position in shares of KB Home (NYSE:KBH) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,160 shares of the construction company’s stock after selling 3,328 shares during the period. ProShare Advisors LLC’s holdings in KB Home were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Creative Planning lifted its holdings in shares of KB Home by 34.9% during the 2nd quarter. Creative Planning now owns 4,289 shares of the construction company’s stock worth $103,000 after acquiring an additional 1,110 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of KB Home by 10.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock worth $134,000 after acquiring an additional 639 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of KB Home by 40.2% during the 1st quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock worth $140,000 after acquiring an additional 2,020 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of KB Home by 18.0% during the 2nd quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock worth $156,000 after acquiring an additional 991 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of KB Home by 28.7% during the 1st quarter. Lazard Asset Management LLC now owns 9,418 shares of the construction company’s stock worth $187,000 after acquiring an additional 2,100 shares during the period. 98.37% of the stock is owned by institutional investors.
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In other news, insider Jeffrey T. Mezger sold 400,000 shares of the business’s 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 directly owns 682,996 shares in the company, valued at approximately $15,579,138.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William R. Hollinger sold 57,405 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the sale, the senior vice president now owns 214,306 shares of the company’s stock, valued at $4,969,756.14. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
A number of analysts have recently weighed in on KBH shares. Deutsche Bank AG upped their price target on shares of KB Home from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, June 30th. MKM Partners reaffirmed a “neutral” rating on shares of KB Home in a report on Tuesday, September 5th. Wedbush cut their price target on shares of KB Home from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, June 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 price target on shares of KB Home in a report on Tuesday, August 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of KB Home in a report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.93.
KB Home (NYSE KBH) opened at 26.74 on Wednesday. The company has a market cap of $2.31 billion, a P/E ratio of 19.15 and a beta of 1.54. KB Home has a 52 week low of $14.06 and a 52 week high of $26.79. The company has a 50-day moving average of $22.35 and a 200 day moving average of $21.96.
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 the consensus estimate of $0.47 by $0.04. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.42 earnings per share. KB Home’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts forecast that KB Home will post $1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 1st. This represents a $0.10 annualized dividend and a yield of 0.37%. KB Home’s payout ratio is presently 7.19%.
KB Home Company 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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