Invst LLC Buys 751 Shares of KB Home (NYSE:KBH)

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

Other hedge funds have also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of KB Home by 20.9% in the 2nd quarter. Creative Planning now owns 23,662 shares of the construction company’s stock valued at $1,661,000 after buying an additional 4,096 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in KB Home during the second quarter worth $308,000. Aristeia Capital L.L.C. acquired a new stake in KB Home in the second quarter valued at $360,000. Evergreen Capital Management LLC grew its position in shares of KB Home by 18.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,406 shares of the construction company’s stock valued at $239,000 after acquiring an additional 539 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of KB Home by 1,609.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the construction company’s stock worth $138,000 after purchasing an additional 1,851 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KBH shares. Evercore ISI raised their target price on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price objective on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Bank of America boosted their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group raised their price target on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wedbush upped their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.27.

KB Home Stock Up 2.0 %

Shares of KB Home stock opened at $85.94 on Monday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.81. KB Home has a twelve month low of $42.11 and a twelve month high of $89.70. The company has a 50-day simple moving average of $82.58 and a two-hundred day simple moving average of $73.65.

KB Home (NYSE:KBH) last released 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 during 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%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, sell-side analysts anticipate that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Announces Dividend

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

KB Home 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.