Texas Permanent School Fund Corp Has $5.42 Million Stake in KB Home (NYSE:KBH)

Texas Permanent School Fund Corp grew its holdings in KB Home (NYSE:KBH) by 20.1% during the second quarter, Holdings Channel.com reports. The firm owned 77,223 shares of the construction company’s stock after buying an additional 12,906 shares during the period. Texas Permanent School Fund Corp’s holdings in KB Home were worth $5,420,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. LSV Asset Management increased its holdings in shares of KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after purchasing an additional 572,800 shares during the period. Ballentine Partners LLC increased its holdings in shares of KB Home by 24.6% in the 2nd quarter. Ballentine Partners LLC now owns 10,538 shares of the construction company’s stock valued at $740,000 after purchasing an additional 2,081 shares during the period. Caprock Group LLC increased its holdings in shares of KB Home by 7.0% in the 2nd quarter. Caprock Group LLC now owns 5,479 shares of the construction company’s stock valued at $385,000 after purchasing an additional 357 shares during the period. Savant Capital LLC increased its holdings in shares of KB Home by 11.9% in the 2nd quarter. Savant Capital LLC now owns 7,835 shares of the construction company’s stock valued at $550,000 after purchasing an additional 833 shares during the period. Finally, Foundry Partners LLC increased its holdings in shares of KB Home by 7.0% in the 2nd quarter. Foundry Partners LLC now owns 110,972 shares of the construction company’s stock valued at $7,788,000 after purchasing an additional 7,228 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KBH. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a report on Thursday, September 5th. The Goldman Sachs Group raised their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wedbush reaffirmed a “neutral” rating and set a $67.00 price objective on shares of KB Home in a research report on Thursday. Evercore ISI raised their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.71.

KB Home Stock Up 3.0 %

Shares of KBH stock opened at $82.13 on Friday. KB Home has a 12 month low of $42.11 and a 12 month high of $88.31. The business’s 50 day moving average is $79.83 and its two-hundred day moving average is $72.14. The company has a market cap of $6.18 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities analysts expect that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. KB Home’s payout ratio is 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.