Pacer Advisors Inc. Grows Stock Position in KB Home (NYSE:KBH)

Pacer Advisors Inc. boosted its holdings in KB Home (NYSE:KBH) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,705 shares of the construction company’s stock after buying an additional 794 shares during the period. Pacer Advisors Inc.’s holdings in KB Home were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares during the period. LSV Asset Management increased its holdings in shares of KB Home by 118.4% during the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after buying an additional 572,800 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock worth $63,692,000 after buying an additional 18,981 shares during the period. Bank of New York Mellon Corp raised its position in shares of KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after buying an additional 3,993 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in KB Home by 10.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company’s stock valued at $48,843,000 after acquiring an additional 67,628 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wedbush raised their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their price target on shares of KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Barclays boosted their price objective on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, Bank of America upped their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.27.

KB Home Price Performance

Shares of KB Home stock opened at $85.90 on Friday. KB Home has a 1-year low of $42.11 and a 1-year high of $89.70. The company has a market capitalization of $6.46 billion, a PE ratio of 11.36, a P/E/G ratio of 0.89 and a beta of 1.81. The business has a 50-day moving average of $82.46 and a 200-day moving average of $73.51.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. KB Home’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.80 EPS. On average, equities analysts expect that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.16%. KB Home’s dividend payout ratio is presently 13.23%.

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.