34,225 Shares in KB Home $KBH Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new stake in KB Home (NYSE:KBH) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,225 shares of the construction company’s stock, valued at approximately $1,771,000. SummitTX Capital L.P. owned approximately 0.05% of KB Home as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KBH. Bessemer Group Inc. raised its holdings in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. First Horizon Corp boosted its holdings in shares of KB Home by 178.9% in the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after buying an additional 322 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after buying an additional 250 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in KB Home during the 3rd quarter worth $36,000. Finally, Rothschild Investment LLC raised its stake in KB Home by 391.0% during the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after acquiring an additional 653 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Down 1.4%

Shares of KBH stock opened at $56.99 on Thursday. The stock has a market capitalization of $3.49 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 9.58 and a beta of 1.34. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71. The stock’s 50-day moving average price is $55.01 and its 200 day moving average price is $55.71.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm’s revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Analysts expect that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. KB Home’s payout ratio is 34.84%.

Analysts Set New Price Targets

Several equities analysts have issued reports on KBH shares. Citizens Jmp restated a “market outperform” rating and issued a $77.00 price objective on shares of KB Home in a research note on Wednesday, June 24th. Weiss Ratings upgraded KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 13th. Seaport Research Partners reissued a “sell” rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. Truist Financial raised their price target on KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.17.

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.