KB Home (KBH) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its position in shares of KB Home (NYSE:KBH) by 39.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,767 shares of the construction company’s stock after acquiring an additional 92,111 shares during the quarter. Ameriprise Financial Inc. owned about 0.38% of KB Home worth $7,833,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning boosted 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. LS Investment Advisors LLC boosted its position in KB Home by 18.0% during the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock valued at $156,000 after acquiring an additional 991 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in KB Home by 10.5% during the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock valued at $134,000 after acquiring an additional 639 shares during the last quarter. Victory Capital Management Inc. boosted its position in KB Home by 40.2% during the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock valued at $140,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Hartford Investment Management Co. bought a new stake in KB Home during the second quarter valued at $204,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
In other KB Home news, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction dated 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 transaction, the senior vice president now directly owns 214,306 shares of the company’s stock, valued at $4,969,756.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian J. Woram sold 49,529 shares of KB Home stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $27.11, for a total transaction of $1,342,731.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 656,934 shares of company stock valued at $15,675,453. 8.60% of the stock is currently owned by corporate insiders.
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A number of brokerages have commented on KBH. Bank of America Corporation upped their price target on shares of KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a research report on Wednesday, June 28th. BidaskClub cut shares of KB Home from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Mizuho upgraded shares of KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 price objective on the stock in a report on Friday, September 29th. Finally, Barclays PLC lowered shares of KB Home to a “sell” rating in a report on Tuesday, July 11th. Four equities 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’s stock. KB Home presently has an average rating of “Hold” and a consensus target price of $21.93.
Shares of KB Home (NYSE KBH) opened at 27.16 on Tuesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 19.46 and a beta of 1.53. The company has a 50 day moving average of $22.81 and a 200-day moving average of $22.12. KB Home has a 12-month low of $14.06 and a 12-month high of $27.67.
KB Home (NYSE:KBH) last issued its quarterly 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. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $0.42 EPS. KB Home’s revenue was up 24.8% on a year-over-year basis. Analysts predict that KB Home will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.37%. KB Home’s dividend payout ratio (DPR) is currently 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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