SG Americas Securities LLC Purchases 12,411 Shares of KB Home $KBH

SG Americas Securities LLC boosted its position in KB Home (NYSE:KBH) by 121.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,663 shares of the construction company’s stock after purchasing an additional 12,411 shares during the quarter. SG Americas Securities LLC’s holdings in KB Home were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KBH. Geode Capital Management LLC increased its holdings in shares of KB Home by 7.4% in the second quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock worth $94,530,000 after purchasing an additional 123,030 shares during the period. AQR Capital Management LLC grew its position in KB Home by 116.1% during the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock worth $53,957,000 after buying an additional 506,415 shares in the last quarter. Bank of New York Mellon Corp grew its position in KB Home by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock worth $40,627,000 after buying an additional 3,308 shares in the last quarter. Systematic Financial Management LP increased its stake in KB Home by 0.4% in the 1st quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company’s stock worth $28,621,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company’s stock valued at $26,514,000 after acquiring an additional 349,298 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of KBH opened at $61.75 on Friday. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $85.66. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 5.17 and a beta of 1.36. The firm has a 50 day moving average price of $61.93 and a 200-day moving average price of $58.55.

KB Home (NYSE:KBH) last issued its earnings results on Wednesday, September 24th. The construction company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.11. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. As a group, equities research analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, November 13th. KB Home’s payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KBH shares. JPMorgan Chase & Co. cut their price objective on KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Evercore ISI set a $65.00 target price on shares of KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of KB Home in a report on Thursday, September 25th. Wells Fargo & Company raised their price objective on shares of KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, September 2nd. Finally, Raymond James Financial upped their target price on shares of KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.36.

Insider Buying and Selling at KB Home

In related news, EVP Albert Z. Praw sold 20,284 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.89% of the company’s stock.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.