Quest Partners LLC Takes $676,000 Position in KB Home (NYSE:KBH)

Quest Partners LLC purchased a new stake in KB Home (NYSE:KBH) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 10,820 shares of the construction company’s stock, valued at approximately $676,000.

Other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC boosted its position in KB Home by 8.5% during the 4th quarter. Corient Private Wealth LLC now owns 18,597 shares of the construction company’s stock valued at $1,162,000 after purchasing an additional 1,452 shares during the period. Wells Fargo & Company MN boosted its position in KB Home by 45.1% during the 4th quarter. Wells Fargo & Company MN now owns 140,728 shares of the construction company’s stock valued at $8,790,000 after purchasing an additional 43,748 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in KB Home during the 4th quarter valued at approximately $759,000. Norges Bank acquired a new position in KB Home during the 4th quarter valued at approximately $36,761,000. Finally, Manchester Capital Management LLC boosted its position in KB Home by 433.0% during the 4th 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. 96.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on KBH. Evercore ISI reduced their price target on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada boosted their price target on KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 21st. The Goldman Sachs Group boosted their price target on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted 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. Finally, Zelman & Associates reissued an “underperform” rating and issued a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, KB Home presently has a consensus rating of “Hold” and an average price target of $66.30.

KB Home Price Performance

Shares of NYSE KBH opened at $69.78 on Thursday. The business’s 50-day moving average price is $67.53 and its two-hundred day moving average price is $62.52. KB Home has a one year low of $42.11 and a one year high of $74.65. The company has a market capitalization of $5.30 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.74.

KB Home (NYSE:KBH) last issued its earnings results on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. On average, equities analysts anticipate that KB Home will post 8.01 EPS for the current year.

KB Home Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.25 per share. This is an increase from KB Home’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 1.43%. KB Home’s dividend payout ratio is presently 13.61%.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was 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 owns 34,473 shares in the company, valued at approximately $2,294,522.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the sale, the director now directly owns 48,217 shares in the company, valued at approximately $3,398,334.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,294,522.88. The disclosure for this sale can be found here. Insiders sold a total of 64,460 shares of company stock worth $4,384,468 in the last 90 days. 4.44% of the stock is owned by company insiders.

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.