Invst LLC Has $846,000 Stock Holdings in KB Home (NYSE:KBH)

Invst LLC raised its position in shares of KB Home (NYSE:KBH) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,547 shares of the construction company’s stock after purchasing an additional 751 shares during the period. Invst LLC’s holdings in KB Home were worth $846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of KB Home by 45.1% in 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 last quarter. Corient Private Wealth LLC boosted its stake in shares of KB Home by 8.5% in 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 in the last quarter. US Bancorp DE grew its holdings in shares of KB Home by 35.8% during the 4th quarter. US Bancorp DE now owns 12,126 shares of the construction company’s stock valued at $757,000 after purchasing an additional 3,199 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in KB Home by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the construction company’s stock worth $201,000 after purchasing an additional 293 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in KB Home by 7.6% in the 4th quarter. Allianz Asset Management GmbH now owns 219,443 shares of the construction company’s stock valued at $13,706,000 after purchasing an additional 15,491 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on KBH. Wedbush boosted their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Barclays boosted their price objective on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group increased their target price on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Evercore ISI lifted their price target on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.27.

KB Home Stock Performance

NYSE:KBH opened at $85.94 on Monday. KB Home has a 52 week low of $42.11 and a 52 week high of $89.70. The firm’s fifty day moving average is $82.58 and its 200-day moving average is $73.65. The firm has a market cap of $6.46 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.89 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results 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 return on equity of 15.66% and a net margin of 9.43%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.80 earnings per share. As a group, sell-side analysts anticipate that KB Home will post 8.38 earnings per share for the current year.

KB Home Announces Dividend

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

About KB Home

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.