Abacus Wealth Partners LLC Makes New Investment in KB Home $KBH

Abacus Wealth Partners LLC bought a new position in KB Home (NYSE:KBH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,503 shares of the construction company’s stock, valued at approximately $1,269,000.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in KB Home by 3.1% in the second quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock worth $185,562,000 after buying an additional 106,926 shares during the period. Freestone Grove Partners LP acquired a new stake in KB Home in the third quarter worth $111,050,000. Invesco Ltd. increased its position in KB Home by 1.4% in the third quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company’s stock worth $89,153,000 after buying an additional 19,330 shares during the period. Deprince Race & Zollo Inc. increased its position in KB Home by 13.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock worth $59,472,000 after buying an additional 122,457 shares during the period. Finally, Bank of America Corp DE increased its position in KB Home by 36.4% in the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock worth $65,758,000 after buying an additional 275,965 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on KBH shares. Wells Fargo & Company cut their target price on KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 25th. Truist Financial cut their target price on KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Weiss Ratings downgraded KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. UBS Group cut their target price on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Royal Bank Of Canada cut their target price on KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.17.

KB Home Price Performance

KBH opened at $45.08 on Friday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 7.96 and a beta of 1.42. KB Home has a 1-year low of $45.03 and a 1-year high of $68.71. The business has a 50 day moving average price of $52.26 and a two-hundred day moving average price of $58.11.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. Equities analysts expect that KB Home will post 3.1 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is presently 25.38%.

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.