KB Home (NYSE:KBH) Director Sells $227,840.00 in Stock

KB Home (NYSE:KBH) Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the sale, the director owned 9,157 shares of the company’s stock, valued at $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

KB Home Stock Up 2.9%

NYSE:KBH traded up $1.67 during mid-day trading on Friday, hitting $58.62. 837,920 shares of the company traded hands, compared to its average volume of 1,197,725. The stock’s fifty day moving average price is $55.98 and its 200-day moving average price is $55.51. KB Home has a one year low of $44.03 and a one year high of $68.71. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 9.78 and a beta of 1.35.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion for 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%. The company’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. Equities analysts predict that KB Home will post 3.3 EPS for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is presently 34.84%.

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in KB Home in the 2nd quarter worth approximately $618,489,000. State Street Corp grew its holdings in shares of 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 in the last quarter. Freestone Grove Partners LP bought a new stake in KB Home in the third quarter worth $111,050,000. Invesco Ltd. raised its stake in KB Home by 1.4% during the third quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company’s stock valued at $89,153,000 after purchasing an additional 19,330 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in KB Home by 13.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock valued at $59,472,000 after purchasing an additional 122,457 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KBH shares. Wells Fargo & Company raised their price target on KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Wednesday, June 24th. Citigroup reissued a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.