ING Groep NV Buys Shares of 10,109 KB Home (NYSE:KBH)
ING Groep NV bought a new position in KB Home (NYSE:KBH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,109 shares of the construction company’s stock, valued at approximately $242,000.
Other institutional investors have also made changes to their positions in the company. Creative Planning raised its position in shares of KB Home by 34.9% in the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock worth $103,000 after buying an additional 1,110 shares during the period. Flinton Capital Management LLC raised its position in shares of KB Home by 22.6% in the first quarter. Flinton Capital Management LLC now owns 5,542 shares of the construction company’s stock worth $110,000 after buying an additional 1,020 shares during the period. Envestnet Asset Management Inc. raised its position in shares of KB Home by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock worth $134,000 after buying an additional 639 shares during the period. Victory Capital Management Inc. raised its position in shares of KB Home by 40.2% in the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock worth $140,000 after buying an additional 2,020 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of KB Home by 18.0% in the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock worth $156,000 after buying an additional 991 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.
KB Home (NYSE:KBH) traded up 0.89% during midday trading on Friday, reaching $22.70. The company’s stock had a trading volume of 1,476,960 shares. KB Home has a 1-year low of $14.06 and a 1-year high of $24.37. The company’s 50-day moving average price is $23.39 and its 200-day moving average price is $20.47. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.49 and a beta of 1.62.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $929.85 million. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, analysts predict that KB Home will post $1.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.025 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.44%. KB Home’s payout ratio is currently 7.69%.
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A number of brokerages have recently issued reports on KBH. Wedbush lowered their target price on shares of KB Home from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, June 15th. Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Credit Suisse Group began coverage on shares of KB Home in a research report on Thursday, June 22nd. They set a “neutral” rating and a $23.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of KB Home from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 28th. Finally, MKM Partners upgraded shares of KB Home to a “hold” rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Tuesday, June 27th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. KB Home currently has an average rating of “Hold” and an average target price of $19.63.
In other news, CFO Jeff Kaminski sold 163,017 shares of the stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $23.40, for a total value of $3,814,597.80. Following the completion of the transaction, the chief financial officer now owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William R. Hollinger sold 57,405 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total value of $1,331,221.95. Following the completion of the transaction, the senior vice president now directly owns 214,306 shares of the company’s stock, valued at approximately $4,969,756.14. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
About KB Home
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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