LSV Asset Management Reduces Stock Position in KB Home (NYSE:KBH)

LSV Asset Management decreased its stake in shares of KB Home (NYSE:KBH) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 546,000 shares of the construction company’s stock after selling 24,610 shares during the quarter. LSV Asset Management’s holdings in KB Home were worth $34,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KBH. Fifth Third Bancorp grew its holdings in shares of KB Home by 40.9% in the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock worth $43,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC bought a new position in KB Home in the fourth quarter worth approximately $47,000. Daiwa Securities Group Inc. bought a new stake in shares of KB Home during the 4th quarter valued at $56,000. Whittier Trust Co. purchased a new stake in shares of KB Home in the 4th quarter worth $62,000. Finally, Harvest Fund Management Co. Ltd bought a new position in KB Home in the 4th quarter worth $130,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on KBH shares. Wells Fargo & Company raised their price objective on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Barclays raised their price objective on shares of KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Raymond James increased their price target on KB Home from $61.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their price objective on KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 21st. Finally, UBS Group lifted their target price on KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.11.

KB Home Price Performance

KB Home stock opened at $69.60 on Monday. KB Home has a 1-year low of $42.11 and a 1-year high of $72.00. The company’s 50-day moving average is $66.59 and its 200 day moving average is $60.21. The firm has a market capitalization of $5.28 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 0.78 and a beta of 1.74.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. Research analysts anticipate that KB Home will post 8.01 earnings per share for the current fiscal year.

KB Home Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. KB Home’s payout ratio is currently 10.88%.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.52% of the stock is owned by company insiders.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.