Daiwa Securities Group Inc. Raises Stock Holdings in KB Home (NYSE:KBH)

Daiwa Securities Group Inc. grew its holdings in shares of KB Home (NYSE:KBH) by 600.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the construction company’s stock after buying an additional 5,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in KB Home were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KBH. American Century Companies Inc. lifted its stake in shares of KB Home by 32.3% in the 3rd quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock valued at $57,927,000 after purchasing an additional 305,820 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in KB Home by 88.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,249 shares of the construction company’s stock worth $1,307,000 after buying an additional 13,246 shares during the period. Vanguard Group Inc. boosted its stake in KB Home by 3.5% during the third quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock worth $361,896,000 after buying an additional 263,194 shares during the period. Public Employees Retirement System of Ohio bought a new position in KB Home during the third quarter valued at $1,952,000. Finally, FCF Advisors LLC purchased a new stake in shares of KB Home in the fourth quarter valued at $674,000. Institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KBH. StockNews.com downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods increased their target price on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Evercore ISI upped their price target on shares of KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Zelman & Associates reiterated an “underperform” rating and issued a $69.00 price target on shares of KB Home in a report on Monday, May 13th. Finally, Royal Bank of Canada raised their price objective on KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.63.

Insider Buying and Selling

In related news, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the completion of the transaction, the executive vice president now directly owns 135,512 shares of the company’s stock, valued at approximately $9,500,746.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the transaction, the director now owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the completion of the transaction, the executive vice president now directly owns 135,512 shares of the company’s stock, valued at approximately $9,500,746.32. The disclosure for this sale can be found here. 4.44% of the stock is owned by company insiders.

KB Home Stock Performance

KBH stock opened at $73.79 on Friday. The firm has a 50-day simple moving average of $69.35 and a two-hundred day simple moving average of $65.87. KB Home has a one year low of $42.11 and a one year high of $74.65. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.68 and a beta of 1.80.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. KB Home’s dividend payout ratio is presently 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.