Quantbot Technologies LP Acquires New Stake in KB Home $KBH

Quantbot Technologies LP acquired a new stake in shares of KB Home (NYSE:KBH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,482 shares of the construction company’s stock, valued at approximately $1,094,000.

Several other hedge funds have also added to or reduced their stakes in KBH. United Services Automobile Association purchased a new position in shares of KB Home in the 1st quarter worth about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in KB Home by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock valued at $13,108,000 after purchasing an additional 11,103 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in KB Home by 23.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock valued at $134,000 after purchasing an additional 482 shares in the last quarter. Marshall Wace LLP increased its stake in KB Home by 341.2% during the 2nd quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock valued at $4,591,000 after purchasing an additional 67,023 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in KB Home in the second quarter worth about $711,000. 96.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on KBH. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a research note on Wednesday, June 24th. Citizens Jmp reissued a “market outperform” rating and set a $77.00 price target on shares of KB Home in a research report on Wednesday, June 24th. Weiss Ratings upgraded shares of KB Home from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wells Fargo & Company boosted their price objective on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Finally, UBS Group upped their price objective on KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.17.

Insider Transactions at KB Home

In other news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction 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 represents a 30.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at $6,108,439.40. This trade represents a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.69% of the company’s stock.

KB Home Stock Up 2.7%

Shares of NYSE KBH opened at $57.12 on Wednesday. The firm’s 50-day moving average price is $56.98 and its 200-day moving average price is $55.22. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71. The company has a market cap of $3.50 billion, a PE ratio of 19.90, a PEG ratio of 9.23 and a beta of 1.35.

KB Home (NYSE:KBH) last issued its quarterly earnings data 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 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 firm’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. As a group, equities research analysts anticipate that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 6th. KB Home’s payout ratio is currently 34.84%.

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.