KB Home (KBH) Holdings Lifted by Meeder Asset Management Inc.
Meeder Asset Management Inc. boosted its stake in shares of KB Home (NYSE:KBH) by 2,063.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,803 shares of the construction company’s stock after buying an additional 29,379 shares during the quarter. Meeder Asset Management Inc.’s holdings in KB Home were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of KB Home in the fourth quarter valued at approximately $25,280,000. Lakewood Capital Management LP acquired a new stake in shares of KB Home in the fourth quarter valued at approximately $22,735,000. Zweig DiMenna Associates LLC acquired a new stake in shares of KB Home in the fourth quarter valued at approximately $19,051,000. Oregon Public Employees Retirement Fund grew its position in shares of KB Home by 1,810.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock valued at $33,000 after purchasing an additional 603,291 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of KB Home by 82.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 489,194 shares of the construction company’s stock valued at $9,343,000 after purchasing an additional 220,400 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.
Shares of KBH opened at $25.92 on Friday. The company has a current ratio of 5.37, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market cap of $2.26 billion, a P/E ratio of 9.19, a PEG ratio of 1.17 and a beta of 1.57. KB Home has a 1 year low of $16.82 and a 1 year high of $28.96.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, May 1st. KB Home’s payout ratio is 35.46%.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of KB Home from an “underweight” rating to a “neutral” rating and increased their price target for the company from $20.50 to $23.00 in a research report on Wednesday, April 10th. Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Credit Suisse Group increased their price target on shares of KB Home from $17.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, March 27th. Finally, Buckingham Research increased their price target on shares of KB Home from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $24.92.
In related news, CEO Jeffrey T. Mezger sold 183,257 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $25.41, for a total transaction of $4,656,560.37. Following the transaction, the chief executive officer now owns 1,056,532 shares of the company’s stock, valued at $26,846,478.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Albert Z. Praw sold 233,176 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $25.71, for a total transaction of $5,994,954.96. Following the transaction, the executive vice president now directly owns 172,660 shares in the company, valued at approximately $4,439,088.60. The disclosure for this sale can be found here. Insiders have sold 905,691 shares of company stock worth $23,063,991 in the last three months. Insiders own 7.32% of the company’s stock.
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KB Home Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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