Geode Capital Management LLC Raises Stock Holdings in KB Home $KBH

Geode Capital Management LLC raised its stake in shares of KB Home (NYSE:KBH) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,784,398 shares of the construction company’s stock after purchasing an additional 123,030 shares during the quarter. Geode Capital Management LLC’s holdings in KB Home were worth $94,530,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of KB Home by 116.1% during the first quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock valued at $53,957,000 after purchasing an additional 506,415 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company’s stock worth $26,514,000 after purchasing an additional 349,298 shares during the period. Assenagon Asset Management S.A. raised its stake in KB Home by 408.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company’s stock valued at $15,930,000 after buying an additional 241,608 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of KB Home by 511.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 196,800 shares of the construction company’s stock valued at $10,424,000 after buying an additional 164,600 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of KB Home by 83.5% in the 1st quarter. Great Lakes Advisors LLC now owns 186,496 shares of the construction company’s stock worth $10,839,000 after buying an additional 84,875 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Insider Activity at KB Home

In other news, EVP Albert Z. Praw sold 20,284 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.89% of the stock is owned by insiders.

KB Home Stock Up 6.7%

KBH stock opened at $61.75 on Friday. KB Home has a twelve month low of $48.90 and a twelve month high of $85.66. The stock has a market cap of $4.00 billion, a P/E ratio of 8.18, a PEG ratio of 5.17 and a beta of 1.36. The business’s 50-day moving average price is $61.93 and its 200-day moving average price is $58.55.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.11. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm posted $2.04 EPS. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home’s dividend payout ratio is 13.25%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KBH. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KB Home in a report on Wednesday, October 8th. Bank of America dropped their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Evercore ISI set a $65.00 price objective on shares of KB Home and gave the stock an “in-line” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company boosted their target price on shares of KB Home from $50.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.36.

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.