Miller Howard Investments Inc. NY Makes New $422,000 Investment in KB Home (NYSE:KBH)

Miller Howard Investments Inc. NY acquired a new position in KB Home (NYSE:KBH) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,947 shares of the construction company’s stock, valued at approximately $422,000.

A number of other large investors have also modified their holdings of the company. Manchester Capital Management LLC increased its stake in shares of KB Home by 433.0% during the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock worth $30,000 after purchasing an additional 394 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of KB Home during the fourth quarter worth about $47,000. Daiwa Securities Group Inc. purchased a new stake in shares of KB Home during the fourth quarter worth about $56,000. Whittier Trust Co. purchased a new stake in shares of KB Home during the fourth quarter worth about $62,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of KB Home during the fourth quarter worth about $130,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Performance

KB Home stock opened at $71.73 on Tuesday. The company’s 50 day simple moving average is $68.43 and its 200-day simple moving average is $65.27. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.73 and a beta of 1.77. KB Home has a 1 year low of $42.11 and a 1 year high of $74.65.

KB Home Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from KB Home’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 8th. KB Home’s payout ratio is 13.23%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is available through this link. In related news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is available through this link. Also, Director Thomas W. Gilligan sold 3,914 shares of the company’s 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 $3,398,334.16. The disclosure for this sale can be found here. Insiders have sold a total of 64,460 shares of company stock valued at $4,384,468 in the last ninety days. Company insiders own 4.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KBH shares. JPMorgan Chase & Co. raised their target price on shares of KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods boosted their price target on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Zelman & Associates reaffirmed an “underperform” rating and set a $69.00 price target on shares of KB Home in a research report on Monday, May 13th. Evercore ISI increased their price objective on KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Finally, StockNews.com downgraded KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $71.63.

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.