LS Investment Advisors LLC Has $156,000 Stake in KB Home (KBH)
LS Investment Advisors LLC increased its stake in KB Home (NYSE:KBH) by 18.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,511 shares of the construction company’s stock after buying an additional 991 shares during the period. LS Investment Advisors LLC’s holdings in KB Home were worth $156,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of KBH. Creative Planning increased 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 valued at $103,000 after buying an additional 1,110 shares in the last quarter. Flinton Capital Management LLC increased 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 valued at $110,000 after buying an additional 1,020 shares in the last quarter. Envestnet Asset Management Inc. increased 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 valued at $134,000 after buying an additional 639 shares in the last quarter. Victory Capital Management Inc. increased 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 valued at $140,000 after buying an additional 2,020 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of KB Home by 28.7% in the first quarter. Lazard Asset Management LLC now owns 9,418 shares of the construction company’s stock valued at $187,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.
Shares of KB Home (NYSE KBH) traded down 1.616% during midday trading on Thursday, hitting $22.825. The stock had a trading volume of 607,886 shares. The company has a market cap of $1.95 billion, a PE ratio of 17.585 and a beta of 1.62. KB Home has a 52-week low of $14.06 and a 52-week high of $24.37. The company’s 50 day moving average is $23.38 and its 200 day moving average is $20.41.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $929.85 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. KB Home’s revenue was up 23.7% compared to the same quarter last year. On average, analysts anticipate that KB Home will post $1.71 earnings per share for the current year.
The company 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 $0.025 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.10 annualized dividend and a yield of 0.43%. KB Home’s dividend payout ratio (DPR) is currently 7.69%.
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Several brokerages have commented on KBH. Wedbush cut their target price on KB Home from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, June 15th. UBS AG upgraded KB Home from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 13th. Credit Suisse Group began coverage on KB Home in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Raymond James Financial, Inc. upgraded KB Home from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 13th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.63.
In related news, CFO Jeff Kaminski sold 163,017 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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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