KB Home (NYSE:KBH) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. grew its position in shares of KB Home (NYSE:KBH) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,198 shares of the construction company’s stock after acquiring an additional 492 shares during the quarter. Shell Asset Management Co.’s holdings in KB Home were worth $723,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MQS Management LLC acquired a new stake in KB Home during the 1st quarter valued at approximately $425,000. Seven Eight Capital LP raised its stake in KB Home by 56.5% during the 1st quarter. Seven Eight Capital LP now owns 11,346 shares of the construction company’s stock valued at $804,000 after acquiring an additional 4,096 shares in the last quarter. Edgestream Partners L.P. raised its stake in KB Home by 139.3% during the 1st quarter. Edgestream Partners L.P. now owns 11,162 shares of the construction company’s stock valued at $791,000 after acquiring an additional 6,497 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of KB Home by 15,718.8% during the 1st quarter. Acadian Asset Management LLC now owns 63,275 shares of the construction company’s stock valued at $4,481,000 after purchasing an additional 62,875 shares during the period. Finally, Foundry Partners LLC increased its position in shares of KB Home by 17.8% during the 1st quarter. Foundry Partners LLC now owns 103,744 shares of the construction company’s stock valued at $7,353,000 after purchasing an additional 15,674 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Buying and Selling at KB Home

In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now owns 48,217 shares in the company, valued at approximately $3,398,334.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the transaction, the executive vice president now directly owns 135,512 shares of the company’s stock, valued at approximately $9,500,746.32. The disclosure for this sale can be found here. Corporate insiders own 4.44% of the company’s stock.

KB Home Trading Up 2.8 %

NYSE:KBH opened at $83.76 on Friday. The business’s fifty day moving average price is $71.57 and its 200 day moving average price is $67.31. KB Home has a 1-year low of $42.11 and a 1-year high of $84.90. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.82 and a beta of 1.80.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. Equities analysts forecast that KB Home will post 8.38 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. KB Home’s dividend payout ratio (DPR) is currently 13.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KBH. Wedbush lifted their target price on KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Royal Bank of Canada lifted their target price on KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Thursday, June 20th. Keefe, Bruyette & Woods lifted their target price on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Zelman & Associates restated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a report on Monday, May 13th. Finally, StockNews.com cut KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.88.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.