Great Lakes Advisors LLC Takes $4.47 Million Position in KB Home $KBH

Great Lakes Advisors LLC purchased a new position in KB Home (NYSE:KBH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 71,416 shares of the construction company’s stock, valued at approximately $4,470,000. Great Lakes Advisors LLC owned 0.12% of KB Home as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in KB Home during the fourth quarter worth about $4,232,000. M&T Bank Corp raised its position in shares of KB Home by 673.5% in the 4th quarter. M&T Bank Corp now owns 49,046 shares of the construction company’s stock valued at $2,767,000 after buying an additional 42,705 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of KB Home during the 4th quarter worth approximately $1,292,000. 1492 Capital Management LLC bought a new stake in shares of KB Home during the 1st quarter worth approximately $3,038,000. Finally, SummitTX Capital L.P. acquired a new stake in shares of KB Home during the 1st quarter worth approximately $1,771,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Buying and Selling at KB Home

In other KB Home news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares of the company’s stock, valued at $521,582.72. This represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Albert Z. Praw sold 22,015 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.69% of the company’s stock.

KB Home Trading Up 4.5%

Shares of KB Home stock opened at $56.39 on Thursday. The firm’s 50 day moving average is $56.83 and its 200 day moving average is $55.31. The firm has a market capitalization of $3.46 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 8.95 and a beta of 1.35. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company earned $1.50 EPS. KB Home’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, research analysts anticipate that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 6th. KB Home’s dividend payout ratio is presently 34.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings upgraded KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 13th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Citigroup restated a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.17.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.