Freestone Grove Partners LP Invests $7.99 Million in KB Home $KBH

Freestone Grove Partners LP purchased a new position in shares of KB Home (NYSE:KBH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 127,705 shares of the construction company’s stock, valued at approximately $7,993,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Great Lakes Advisors LLC purchased a new position in shares of KB Home during the second quarter valued at approximately $4,470,000. International Assets Investment Management LLC purchased a new stake in KB Home in the fourth quarter worth approximately $4,232,000. Fifth Third Bancorp grew its position in KB Home by 2,016.1% in the 1st quarter. Fifth Third Bancorp now owns 24,864 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 23,689 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in KB Home in the 4th quarter worth approximately $1,292,000. Finally, 1492 Capital Management LLC purchased a new stake in KB Home during the 1st quarter valued at $3,038,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Price Performance

Shares of KB Home stock opened at $54.91 on Friday. The company’s fifty day simple moving average is $57.07 and its 200-day simple moving average is $55.14. The stock has a market capitalization of $3.37 billion, a PE ratio of 19.13, a P/E/G ratio of 9.07 and a beta of 1.35. KB Home has a 1-year low of $44.03 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business 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 company’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 EPS. As a group, research analysts anticipate that KB Home will post 3.3 EPS for the current year.

KB Home Dividend Announcement

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

Insider Buying and Selling

In related news, Director Arthur Reginald Collins sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the sale, the director directly owned 9,157 shares of the company’s stock, valued at approximately $521,582.72. This represents a 30.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Albert Z. Praw sold 22,015 shares of the firm’s 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 sale, the executive vice president owned 104,062 shares in the company, valued at approximately $6,108,439.40. The trade was 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on KBH. Barclays raised their price target on KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Wells Fargo & Company upped their price objective on KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Wednesday, June 24th. Citizens Jmp reissued a “market outperform” rating and issued a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Weiss Ratings raised KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $53.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.17.

KB Home 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.