Assetmark Inc. Acquires 1,502 Shares of KB Home (NYSE:KBH)

Assetmark Inc. grew its stake in KB Home (NYSE:KBH) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 63,009 shares of the construction company’s stock after acquiring an additional 1,502 shares during the quarter. Assetmark Inc.’s holdings in KB Home were worth $5,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. American Century Companies Inc. grew its position in KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after acquiring an additional 147,326 shares during the period. LSV Asset Management grew 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 worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of KB Home by 2.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock worth $63,692,000 after purchasing an additional 18,981 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in KB Home by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock valued at $61,250,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in KB Home by 10.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company’s stock valued at $48,843,000 after buying an additional 67,628 shares in the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KBH. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $80.00 to $83.00 in a research note on Monday, October 7th. Evercore ISI lifted their price objective on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada cut 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. Bank of America raised their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, KB Home has a consensus rating of “Hold” and a consensus price target of $77.50.

KB Home Stock Up 0.7 %

NYSE:KBH opened at $82.79 on Tuesday. KB Home has a 12-month low of $50.38 and a 12-month high of $89.70. The firm has a market capitalization of $6.07 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.70 and a beta of 1.81. The stock’s fifty day simple moving average is $82.12 and its 200-day simple moving average is $76.77.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $1.80 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts expect that KB Home will post 8.44 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. KB Home’s dividend payout ratio is presently 12.82%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.44% of the stock is owned by company insiders.

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.