Davis Investment Partners LLC Takes Position in KB Home (NYSE:KBH)

Davis Investment Partners LLC acquired a new stake in shares of KB Home (NYSE:KBH) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 9,935 shares of the construction company’s stock, valued at approximately $577,000.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of KB Home by 7.3% during the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company’s stock valued at $72,377,000 after buying an additional 75,206 shares during the last quarter. Principal Securities Inc. boosted its position in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after buying an additional 179 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of KB Home by 31.4% during the fourth quarter. Van ECK Associates Corp now owns 57,954 shares of the construction company’s stock valued at $3,809,000 after buying an additional 13,837 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in KB Home in the fourth quarter worth $1,427,000. Finally, Jones Financial Companies Lllp boosted its position in KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 2.5%

Shares of NYSE KBH opened at $53.36 on Thursday. KB Home has a one year low of $48.90 and a one year high of $89.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The business’s fifty day moving average price is $52.95 and its 200-day moving average price is $61.79. The stock has a market capitalization of $3.83 billion, a PE ratio of 6.30, a P/E/G ratio of 0.90 and a beta of 1.35.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. KB Home’s payout ratio is 12.20%.

Insider Activity at KB Home

In related news, Director Arthur Reginald Collins sold 5,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director now directly owns 10,262 shares in the company, valued at approximately $558,047.56. The trade was a 32.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KBH has been the topic of several research analyst reports. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada cut their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 25th. Wedbush reissued a “neutral” rating and issued a $75.00 price objective on shares of KB Home in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods cut their price objective on KB Home from $76.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 26th. Finally, Barclays cut their price objective on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.05.

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.