Virtu Financial LLC Boosts Stake in KB Home (NYSE:KBH)

Virtu Financial LLC grew its stake in KB Home (NYSE:KBH) by 90.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,043 shares of the construction company’s stock after buying an additional 8,546 shares during the period. Virtu Financial LLC’s holdings in KB Home were worth $1,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of KB Home by 3.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company’s stock worth $1,392,000 after purchasing an additional 819 shares during the last quarter. Principal Financial Group Inc. grew its position in KB Home by 0.4% during the first quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company’s stock valued at $12,102,000 after buying an additional 902 shares during the period. Bank of New York Mellon Corp grew its position in KB Home by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company’s stock valued at $44,384,000 after buying an additional 6,856 shares during the period. GAMMA Investing LLC grew its position in KB Home by 64.3% during the first quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company’s stock valued at $96,000 after buying an additional 649 shares during the period. Finally, SG Americas Securities LLC grew its position in KB Home by 11.5% during the first quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company’s stock valued at $596,000 after buying an additional 1,057 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KBH. Evercore ISI dropped their price target on shares of KB Home from $77.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Wells Fargo & Company reissued an “underweight” rating and set a $52.00 target price (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Bank of America cut their target price on shares of KB Home from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Finally, Barclays set a $49.00 target price on shares of KB Home and gave the stock an “equal weight” rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus price target of $66.14.

Insider Activity

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the transaction, the director directly owned 10,262 shares in the company, valued at $558,047.56. The trade was a 32.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert V. Mcgibney sold 14,000 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the transaction, the chief operating officer owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.89% of the company’s stock.

KB Home Stock Performance

KBH opened at $58.85 on Tuesday. The firm has a market capitalization of $4.00 billion, a PE ratio of 7.79, a PEG ratio of 4.79 and a beta of 1.34. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The firm’s 50-day moving average price is $54.72 and its 200 day moving average price is $56.89. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47.

KB Home (NYSE:KBH) last posted its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.05. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. KB Home’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.15 EPS. As a group, sell-side analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, August 7th. KB Home’s payout ratio is presently 13.25%.

KB Home Company 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.