LSV Asset Management Cuts Stake in KB Home $KBH

LSV Asset Management lessened its stake in KB Home (NYSE:KBH) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,053,400 shares of the construction company’s stock after selling 57,889 shares during the quarter. LSV Asset Management owned approximately 1.55% of KB Home worth $55,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in KB Home by 116.1% in the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock valued at $53,957,000 after acquiring an additional 506,415 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of KB Home by 326.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company’s stock valued at $26,514,000 after purchasing an additional 349,298 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of KB Home by 408.6% during the second quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company’s stock valued at $15,930,000 after purchasing an additional 241,608 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of KB Home by 511.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 196,800 shares of the construction company’s stock worth $10,424,000 after purchasing an additional 164,600 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of KB Home by 7.4% in the second quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock worth $94,530,000 after purchasing an additional 123,030 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In related news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the transaction, the executive vice president directly owned 104,062 shares in the company, valued at approximately $6,252,044.96. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.89% of the company’s stock.

Analysts Set New Price Targets

KBH has been the subject of a number of research reports. Oppenheimer initiated coverage on KB Home in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Evercore ISI set a $65.00 price objective on KB Home and gave the stock an “in-line” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. cut their target price on shares of KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Bank of America reduced their price target on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, Wells Fargo & Company upped their price target on shares of KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and an average price target of $64.36.

KB Home Stock Performance

NYSE KBH opened at $58.58 on Tuesday. The business’s 50 day moving average price is $62.51 and its 200-day moving average price is $58.48. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $85.66. The company has a market cap of $3.79 billion, a P/E ratio of 7.76, a P/E/G ratio of 5.17 and a beta of 1.36.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.11. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $2.04 earnings per share. KB Home’s revenue was down 7.4% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. KB Home’s payout ratio is currently 13.25%.

About KB Home

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.