29,532 Shares in KB Home $KBH Acquired by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. acquired a new position in shares of KB Home (NYSE:KBH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 29,532 shares of the construction company’s stock, valued at approximately $1,848,000.

Other large investors also recently added to or reduced their stakes in the company. Freestone Grove Partners LP purchased a new stake in shares of KB Home in the second quarter valued at $7,993,000. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of KB Home in the second quarter worth $431,000. Odyssean LLC purchased a new position in shares of KB Home during the second quarter valued at $278,000. Man Group plc purchased a new position in shares of KB Home during the second quarter valued at $4,500,000. Finally, Jupiter Topco LLC acquired a new position in KB Home during the second quarter valued at $1,791,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KBH has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 24th. Zacks Research raised KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a report on Wednesday, June 24th. Citizens Jmp reissued a “market outperform” rating and issued a $77.00 price target on shares of KB Home in a research report on Wednesday, June 24th. Finally, Barclays raised their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.17.

KB Home Stock Performance

KBH opened at $56.08 on Thursday. The company has a market cap of $3.44 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 9.47 and a beta of 1.35. The stock has a 50-day moving average of $57.05 and a 200-day moving average of $55.18. 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 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). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business posted $1.50 earnings per share. The firm’s revenue was down 27.3% on a year-over-year basis. On average, research analysts predict that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

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

Insider Activity at KB Home

In other news, EVP Albert Z. Praw sold 22,015 shares of KB Home stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the transaction, the executive vice president owned 104,062 shares of the company’s stock, valued at $6,108,439.40. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arthur Reginald Collins sold 4,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was 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. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.69% of the company’s stock.

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.