Paloma Partners Management Co Buys Shares of 7,485 KB Home (NYSE:KBH)

Paloma Partners Management Co bought a new stake in KB Home (NYSE:KBH) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,485 shares of the construction company’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in KB Home by 9.5% in the first quarter. Public Employees Retirement System of Ohio now owns 46,183 shares of the construction company’s stock worth $3,273,000 after acquiring an additional 4,013 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in KB Home by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,439 shares of the construction company’s stock worth $3,363,000 after acquiring an additional 1,780 shares in the last quarter. Hyperion Capital Advisors LP acquired a new stake in KB Home in the first quarter worth about $279,000. Keeley Teton Advisors LLC boosted its holdings in KB Home by 2.8% in the first quarter. Keeley Teton Advisors LLC now owns 107,426 shares of the construction company’s stock worth $7,614,000 after acquiring an additional 2,924 shares in the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of KB Home by 5.1% during the first quarter. Shell Asset Management Co. now owns 10,198 shares of the construction company’s stock worth $723,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms recently commented on KBH. StockNews.com downgraded KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Wedbush lifted their target price on KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Evercore ISI lifted their target price on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Zelman & Associates reaffirmed an “underperform” rating and set a $69.00 target price on shares of KB Home in a report on Monday, May 13th. Finally, Keefe, Bruyette & Woods boosted their price target on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Two equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.88.

KB Home Stock Up 1.5 %

Shares of KB Home stock traded up $1.26 on Monday, reaching $85.02. The company’s stock had a trading volume of 1,269,517 shares, compared to its average volume of 1,282,657. KB Home has a 52-week low of $42.11 and a 52-week high of $85.39. The company has a market capitalization of $6.39 billion, a P/E ratio of 11.25, a PEG ratio of 0.85 and a beta of 1.80. The stock has a 50-day moving average price of $71.80 and a 200-day moving average price of $67.53.

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

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 8th. KB Home’s payout ratio is 13.23%.

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.