Legal & General Group Plc Takes Position in KB Home $KBH

Legal & General Group Plc bought a new position in shares of KB Home (NYSE:KBH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 81,996 shares of the construction company’s stock, valued at approximately $5,132,000. Legal & General Group Plc owned about 0.13% of KB Home as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of KB Home during the second quarter worth $618,489,000. State Street Corp increased its stake in KB Home by 3.1% in the second quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock valued at $185,562,000 after purchasing an additional 106,926 shares during the last quarter. Freestone Grove Partners LP acquired a new position in KB Home in the third quarter valued at $111,050,000. Donald Smith & CO. Inc. purchased a new position in KB Home during the second quarter worth about $108,652,000. Finally, Invesco Ltd. boosted its stake in KB Home by 1.4% in the 3rd quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company’s stock worth $89,153,000 after buying an additional 19,330 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on KBH. Citizens Jmp restated a “market outperform” rating and issued a $77.00 price target on shares of KB Home in a report on Wednesday, June 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a research report on Wednesday, June 24th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. UBS Group upped their price target on shares of KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Citigroup reiterated a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.17.

Insiders Place Their Bets

In other KB Home news, Director Arthur Collins sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Albert Z. Praw sold 22,015 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,108,439.40. The trade was a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.69% of the stock is currently owned by corporate insiders.

KB Home Stock Performance

KBH opened at $52.23 on Friday. The firm has a 50 day moving average price of $56.72 and a 200 day moving average price of $54.76. The company has a market cap of $3.20 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $1.50 earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. On average, sell-side analysts predict that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home’s dividend payout ratio is 34.84%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.