Millstone Evans Group LLC Takes Position in KB Home (NYSE:KBH)

Millstone Evans Group LLC acquired a new position in shares of KB Home (NYSE:KBH) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,451 shares of the construction company’s stock, valued at approximately $161,000.

A number of other hedge funds have also recently added to or reduced their stakes in KBH. FMR LLC boosted its holdings in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the period. Holocene Advisors LP acquired a new position in KB Home in the third quarter worth $89,899,000. Hennessy Advisors Inc. acquired a new position in KB Home in the fourth quarter worth $44,118,000. Raymond James Financial Inc. acquired a new position in KB Home in the fourth quarter worth $12,288,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after acquiring an additional 164,010 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Down 2.7 %

Shares of KBH stock opened at $59.61 on Friday. KB Home has a 1 year low of $58.80 and a 1 year high of $89.70. The stock has a market cap of $4.26 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The business’s fifty day moving average is $64.22 and its 200-day moving average is $73.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio is presently 11.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KBH. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the company from $70.00 to $67.00 in a report on Friday, January 10th. Evercore ISI boosted their price target on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Bank of America reduced their price target on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. lowered their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.21.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.89% of the stock is currently owned by 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.