Salem Investment Counselors Inc. Grows Stake in KB Home (NYSE:KBH)

Salem Investment Counselors Inc. raised its holdings in shares of KB Home (NYSE:KBHFree Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,300 shares of the construction company’s stock after buying an additional 11,925 shares during the period. Salem Investment Counselors Inc. owned about 0.20% of KB Home worth $10,582,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KBH. Manchester Capital Management LLC boosted its holdings in shares of KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after purchasing an additional 394 shares during the period. GAMMA Investing LLC bought a new position in KB Home in the fourth quarter worth approximately $47,000. Daiwa Securities Group Inc. bought a new position in KB Home in the fourth quarter worth approximately $56,000. Whittier Trust Co. bought a new position in KB Home in the fourth quarter worth approximately $62,000. Finally, Harvest Fund Management Co. Ltd bought a new position in KB Home in the fourth quarter worth approximately $130,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Activity

In related news, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the completion of the transaction, the executive vice president now directly owns 135,512 shares of the company’s stock, valued at $9,500,746.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,460 shares of company stock valued at $4,384,468. Company insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Barclays raised their price target on shares of KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Wedbush raised their price target on shares of KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday. The Goldman Sachs Group increased their price objective on shares of KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company raised their target price on shares of KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.63.

Get Our Latest Analysis on KB Home

KB Home Stock Up 0.8 %

NYSE KBH traded up $0.56 during trading hours on Friday, hitting $70.54. 3,549,784 shares of the stock were exchanged, compared to its average volume of 1,150,589. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.77. KB Home has a 12-month low of $42.11 and a 12-month high of $74.65. The stock has a 50-day moving average of $68.25 and a 200 day moving average of $65.09.

KB Home (NYSE:KBHGet Free Report) last issued its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 earnings per share. On average, equities research analysts expect that KB Home will post 8.15 earnings per share for the current year.

KB Home Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. This is an increase from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is currently 13.23%.

KB Home Profile

(Free Report)

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.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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