34,225 Shares in KB Home $KBH Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. bought a new stake in shares of KB Home (NYSE:KBH) during the 1st quarter, Holdings Channel.com reports. The firm bought 34,225 shares of the construction company’s stock, valued at approximately $1,771,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vista Investment Management lifted its position in KB Home by 3.5% during the 4th quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock worth $289,000 after acquiring an additional 175 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of KB Home by 73.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after purchasing an additional 250 shares in the last quarter. Nebula Research & Development LLC boosted its stake in shares of KB Home by 6.3% in the second quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after purchasing an additional 262 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of KB Home by 5.5% in the third quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after purchasing an additional 274 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Trading Down 1.4%

Shares of KBH opened at $56.99 on Thursday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 9.58 and a beta of 1.34. The stock has a 50 day moving average of $55.01 and a 200-day moving average of $55.71. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71.

KB Home (NYSE:KBH) last issued 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). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. KB Home’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. On average, sell-side analysts predict that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. KB Home’s payout ratio is presently 34.84%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $53.00 price target on shares of KB Home in a report on Wednesday, June 24th. Weiss Ratings upgraded KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 13th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Barclays lifted their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Seaport Research Partners reaffirmed a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, KB Home currently has an average rating of “Hold” and an average price target of $60.17.

About KB Home

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.