Texas Permanent School Fund increased its position in KB Home (NYSE:KBH) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,669 shares of the construction company’s stock after buying an additional 459 shares during the period. Texas Permanent School Fund owned about 0.07% of KB Home worth $1,454,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of KB Home by 19,999.6% in the first quarter. BlackRock Inc. now owns 10,064,270 shares of the construction company’s stock worth $200,078,000 after buying an additional 10,014,198 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of KB Home by 2.5% in the first quarter. Donald Smith & CO. Inc. now owns 6,930,463 shares of the construction company’s stock worth $137,778,000 after buying an additional 169,696 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of KB Home by 4.0% in the first quarter. Vanguard Group Inc. now owns 6,392,286 shares of the construction company’s stock worth $127,079,000 after buying an additional 244,007 shares during the last quarter. State Street Corp boosted its position in shares of KB Home by 1.7% in the first quarter. State Street Corp now owns 2,582,322 shares of the construction company’s stock worth $51,341,000 after buying an additional 42,224 shares during the last quarter. Finally, Horseman Capital Management Ltd bought a new position in shares of KB Home during the first quarter worth about $35,460,000. Institutional investors and hedge funds own 99.16% of the company’s stock.
Shares of KB Home (NYSE KBH) opened at 23.15 on Wednesday. The firm has a market cap of $1.98 billion, a PE ratio of 17.84 and a beta of 1.62. KB Home has a 52-week low of $14.06 and a 52-week high of $24.37. The company’s 50-day moving average price is $23.42 and its 200-day moving average price is $20.62.
KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $929.85 million. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The company’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Equities analysts expect that KB Home will post $1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Tuesday, August 1st. KB Home’s dividend payout ratio (DPR) is presently 7.69%.
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A number of equities analysts recently issued reports on KBH shares. BidaskClub cut KB Home from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Mizuho started coverage on KB Home in a report on Tuesday, May 16th. They issued a “neutral” rating and a $20.00 target price on the stock. Deutsche Bank AG lifted their target price on KB Home from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Barclays PLC restated a “sell” rating and issued a $17.00 target price on shares of KB Home in a report on Friday, June 30th. Finally, Bank of America Corporation lifted their target price on KB Home from $17.00 to $19.00 and gave the stock an “underperform” rating in a report on Wednesday, June 28th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.63.
In other KB Home news, CFO Jeff Kaminski sold 163,017 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the completion of the transaction, the chief financial officer now owns 178,251 shares in the company, valued at approximately $4,171,073.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey T. Mezger sold 400,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $22.81, for a total value of $9,124,000.00. Following the transaction, the insider now owns 682,996 shares of the company’s stock, valued at approximately $15,579,138.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 620,422 shares of company stock valued at $14,269,820. Corporate insiders own 8.60% of the company’s stock.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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