KB Home (KBH) Hits New 1-Year High After Dividend Announcement
KB Home (NYSE:KBH) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $25.95 and last traded at $25.96, with a volume of 1,800,610 shares. The stock had previously closed at $25.64.
The newly announced dividend which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. KB Home’s payout ratio is 7.19%.
KBH has been the subject of several recent analyst reports. BidaskClub lowered KB Home from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Wedbush set a $22.00 target price on KB Home and gave the company a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded KB Home from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Friday, September 22nd. Keefe, Bruyette & Woods set a $24.00 target price on KB Home and gave the company a “hold” rating in a report on Saturday, August 19th. Finally, MKM Partners upgraded KB Home to a “hold” rating and raised their target price for the company from $20.00 to $24.00 in a report on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. KB Home has a consensus rating of “Hold” and a consensus price target of $21.93.
The stock has a 50 day moving average of $22.01 and a 200 day moving average of $21.77. The stock has a market capitalization of $2.23 billion, a PE ratio of 18.56 and a beta of 1.54.
KB Home (NYSE:KBH) last released its earnings results on Thursday, September 28th. The construction company reported $0.51 EPS 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 during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 24.8% on a year-over-year basis. On average, equities research analysts forecast that KB Home will post $1.74 EPS for the current year.
In other KB Home news, SVP William R. Hollinger sold 57,405 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the transaction, the senior vice president now directly owns 214,306 shares in the company, valued at approximately $4,969,756.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey T. Mezger sold 400,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the transaction, the insider now owns 682,996 shares of the company’s stock, valued at $15,579,138.76. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of KBH. Creative Planning grew its holdings in shares of KB Home by 34.9% during 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 in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of KB Home by 10.5% during 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 in the last quarter. Victory Capital Management Inc. grew its holdings in shares of KB Home by 40.2% during 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 in the last quarter. LS Investment Advisors LLC grew its holdings in shares of KB Home by 18.0% during 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 in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of KB Home by 28.7% during the first quarter. Lazard Asset Management LLC now owns 9,418 shares of the construction company’s stock worth $187,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 98.37% of the company’s stock.
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KB Home Company 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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