Key Points
- KB Home EVP Albert Praw sold 22,015 shares at an average price of $58.70, generating $1.29 million. The transaction reduced his direct ownership by 17.46% to 104,062 shares.
- KB Home’s latest quarter showed pressure, with earnings of $0.43 per share missing estimates and revenue falling 27.3% year over year to $1.11 billion.
- The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 1.7% yield. Analysts’ consensus rating is “Hold,” with an average price target of $60.17.
KB Home (NYSE:KBH - Get Free Report) Director Arthur Reginald Collins sold 4,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the sale, the director directly owned 9,157 shares of the company's stock, valued at $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
KB Home Stock Performance
Shares of NYSE KBH opened at $58.62 on Friday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 9.44 and a beta of 1.35. The business has a 50 day simple moving average of $56.18 and a 200 day simple moving average of $55.53. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71.
KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company's quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. On average, analysts predict that KB Home will post 3.3 EPS for the current year.
KB Home Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. KB Home's dividend payout ratio is 34.84%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of KBH. BlackRock Inc. bought a new stake in KB Home during the second quarter valued at about $618,489,000. State Street Corp increased its stake in shares of KB Home by 3.1% in the second quarter. State Street Corp now owns 3,503,159 shares of the construction company's stock worth $185,562,000 after purchasing an additional 106,926 shares during the period. Freestone Grove Partners LP acquired a new position in shares of KB Home during the 3rd quarter worth about $111,050,000. Invesco Ltd. boosted its stake in KB Home by 1.4% during the 3rd quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company's stock valued at $89,153,000 after purchasing an additional 19,330 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in KB Home by 13.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company's stock valued at $59,472,000 after purchasing an additional 122,457 shares during the period. Institutional investors own 96.09% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on KBH. Citizens Jmp reiterated a "market outperform" rating and issued a $77.00 price objective on shares of KB Home in a report on Wednesday, June 24th. UBS Group boosted their price target on KB Home from $63.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Barclays upped their price target on KB Home from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Citigroup reissued a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Finally, Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.17.
Get Our Latest Stock Report on KB Home
About KB Home
(
Get Free Report)
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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