Sei Investments Co. Increases Stake in KB Home $KBH

Sei Investments Co. increased its stake in KB Home (NYSE:KBH) by 54.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,863 shares of the construction company’s stock after acquiring an additional 60,230 shares during the period. Sei Investments Co.’s holdings in KB Home were worth $8,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KBH. Freestone Grove Partners LP purchased a new position in KB Home during the third quarter worth approximately $111,050,000. Norges Bank acquired a new stake in shares of KB Home during the 4th quarter worth $48,418,000. Donald Smith & CO. Inc. raised its position in shares of KB Home by 387.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock worth $40,919,000 after buying an additional 576,694 shares during the period. Goldman Sachs Group Inc. boosted its holdings in KB Home by 102.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock valued at $52,584,000 after acquiring an additional 471,598 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in KB Home by 519.2% during the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock valued at $19,954,000 after acquiring an additional 296,615 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

KBH has been the topic of a number of research reports. UBS Group raised their price objective on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Truist Financial boosted their price objective on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Wells Fargo & Company raised their target price on shares of KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.17.

KB Home Stock Performance

Shares of NYSE:KBH opened at $54.98 on Friday. The business’s 50-day simple moving average is $55.30 and its 200 day simple moving average is $55.67. The company has a market cap of $3.37 billion, a P/E ratio of 19.16, a PEG ratio of 9.11 and a beta of 1.34. KB Home has a one year low of $44.03 and a one year high of $68.71.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s revenue was down 27.3% compared to the same quarter last year. Analysts predict that KB Home will post 3.3 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home’s payout ratio is presently 34.84%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.