Gradient Investments LLC Has $1.62 Million Stake in KB Home $KBH

Gradient Investments LLC trimmed its stake in KB Home (NYSE:KBH) by 28.9% during the second quarter, Holdings Channel reports. The fund owned 25,953 shares of the construction company’s stock after selling 10,557 shares during the quarter. Gradient Investments LLC’s holdings in KB Home were worth $1,624,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in KB Home by 3.1% in the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock worth $185,562,000 after purchasing an additional 106,926 shares during the last quarter. Freestone Grove Partners LP acquired a new position in KB Home during the third quarter valued at approximately $111,050,000. Invesco Ltd. grew its holdings in KB Home by 1.4% during the third quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company’s stock valued at $89,153,000 after purchasing an additional 19,330 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of 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 valued at $59,472,000 after purchasing an additional 122,457 shares during the period. Finally, Bank of America Corp DE raised its position in shares of 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 valued at $65,758,000 after purchasing an additional 275,965 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 13th. Wells Fargo & Company lifted their target price on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Citizens Jmp reissued a “market outperform” rating and set a $77.00 target price on shares of KB Home in a research report on Wednesday, June 24th. Truist Financial boosted their target price on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and an average target price of $60.17.

KB Home Trading Up 0.1%

Shares of NYSE:KBH opened at $58.62 on Monday. The firm has a market capitalization of $3.59 billion, a PE ratio of 20.43, a PEG ratio of 9.71 and a beta of 1.35. KB Home has a 1-year low of $44.03 and a 1-year high of $68.71. The business’s 50 day moving average is $56.18 and its 200-day moving average is $55.49.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 4.94% and a return on equity of 7.67%. The business’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, sell-side analysts predict that KB Home will post 3.3 EPS for the current year.

KB Home Dividend Announcement

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. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home’s payout ratio is 34.84%.

Insiders Place Their Bets

In other news, EVP Albert Z. Praw sold 22,015 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur Reginald Collins sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director directly owned 9,157 shares of the company’s stock, valued at $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.

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.