Seven Eight Capital LP Grows Holdings in KB Home (NYSE:KBH)

Seven Eight Capital LP raised its position in KB Home (NYSE:KBH) by 56.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,346 shares of the construction company’s stock after purchasing an additional 4,096 shares during the period. Seven Eight Capital LP’s holdings in KB Home were worth $804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC increased its stake in shares of KB Home by 422.3% during the 4th quarter. Jump Financial LLC now owns 60,099 shares of the construction company’s stock valued at $3,754,000 after acquiring an additional 48,593 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of KB Home during the 1st quarter valued at about $935,000. International Assets Investment Management LLC acquired a new position in shares of KB Home during the 4th quarter valued at about $733,000. Entropy Technologies LP acquired a new position in shares of KB Home during the 1st quarter valued at about $640,000. Finally, FCF Advisors LLC increased its stake in shares of KB Home by 102.9% during the 1st quarter. FCF Advisors LLC now owns 21,882 shares of the construction company’s stock valued at $1,551,000 after acquiring an additional 11,099 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the transaction, the director now directly owns 48,217 shares in the company, valued at $3,398,334.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the sale, the executive vice president now directly owns 135,512 shares of the company’s stock, valued at $9,500,746.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total value of $275,858.72. Following the completion of the sale, the director now directly owns 48,217 shares in the company, valued at $3,398,334.16. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by company insiders.

KB Home Trading Up 1.4 %

NYSE:KBH traded up $1.10 during trading hours on Tuesday, hitting $81.66. The stock had a trading volume of 1,077,049 shares, compared to its average volume of 1,279,364. KB Home has a 1-year low of $42.11 and a 1-year high of $83.74. The business has a 50 day simple moving average of $70.85 and a two-hundred day simple moving average of $66.83. The company has a market cap of $6.14 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.81 and a beta of 1.80.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.37. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. Research analysts expect that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is currently 13.23%.

Analysts Set New Price Targets

A number of research firms have recently commented on KBH. JPMorgan Chase & Co. upped their price objective on shares of KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Zelman & Associates reaffirmed an “underperform” rating and set a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. StockNews.com downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Wedbush increased their target price on shares of KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. Finally, Evercore ISI increased their target price on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.88.

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.