APG Asset Management N.V. Takes Position in KB Home (KBH)
APG Asset Management N.V. purchased a new stake in shares of KB Home (NYSE:KBH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 115,300 shares of the construction company’s stock, valued at approximately $2,781,000. APG Asset Management N.V. owned about 0.13% of KB Home as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of KB Home by 17.0% during the second quarter. Russell Investments Group Ltd. now owns 93,500 shares of the construction company’s stock valued at $2,241,000 after buying an additional 13,600 shares during the last quarter. Renaissance Group LLC purchased a new stake in shares of KB Home during the second quarter valued at about $405,000. Geneva Advisors LLC purchased a new stake in shares of KB Home during the second quarter valued at about $722,000. Chicago Equity Partners LLC lifted its position in shares of KB Home by 106.3% during the second quarter. Chicago Equity Partners LLC now owns 192,155 shares of the construction company’s stock valued at $4,606,000 after buying an additional 99,015 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of KB Home by 2.6% during the second quarter. CIBC World Markets Inc. now owns 186,011 shares of the construction company’s stock valued at $4,459,000 after buying an additional 4,724 shares during the last quarter. 97.49% of the stock is owned by institutional investors and hedge funds.
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Several research firms have commented on KBH. BTIG Research reissued a “sell” rating and set a $16.00 price target on shares of KB Home in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $25.00 price target on shares of KB Home in a research report on Tuesday, August 29th. Wedbush reaffirmed an “ourperform” rating and issued a $26.00 price objective on shares of KB Home in a research report on Saturday, September 16th. UBS AG assumed coverage on shares of KB Home in a research report on Wednesday, October 25th. They issued a “sell” rating and a $24.00 price objective for the company. Finally, Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.06.
KB Home (NYSE KBH) opened at $27.98 on Tuesday. The firm has a market capitalization of $2,345.89, a price-to-earnings ratio of 19.51, a P/E/G ratio of 0.79 and a beta of 1.66.
KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company earned $0.42 EPS. KB Home’s quarterly revenue was up 24.8% on a year-over-year basis. analysts forecast that KB Home will post 1.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.36%. KB Home’s payout ratio is 7.19%.
In other news, EVP Brian J. Woram sold 49,529 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total transaction of $1,342,731.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Albert Z. Praw sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $3,877,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 656,934 shares of company stock worth $15,675,453 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.
KB Home Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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