Infrastructure Capital Advisors LLC Invests $742,000 in KB Home $KBH

Infrastructure Capital Advisors LLC bought a new position in shares of KB Home (NYSE:KBH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,853 shares of the construction company’s stock, valued at approximately $742,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Lakes Advisors LLC acquired a new stake in KB Home during the second quarter worth approximately $4,470,000. International Assets Investment Management LLC bought a new stake in KB Home in the fourth quarter worth approximately $4,232,000. M&T Bank Corp lifted its stake in KB Home by 673.5% in the fourth quarter. M&T Bank Corp now owns 49,046 shares of the construction company’s stock valued at $2,767,000 after buying an additional 42,705 shares during the period. Fifth Third Bancorp lifted its stake in KB Home by 2,016.1% in the first quarter. Fifth Third Bancorp now owns 24,864 shares of the construction company’s stock valued at $1,287,000 after buying an additional 23,689 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in KB Home in the fourth quarter valued at approximately $1,292,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KBH. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 price objective on shares of KB Home in a research report on Wednesday, June 24th. UBS Group boosted their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Truist Financial increased their target price 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. Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Barclays raised their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus target price of $60.17.

Insider Transactions at KB Home

In related news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the sale, the director owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Albert Z. Praw sold 22,015 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares in the company, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their position. The SEC filing for this sale provides additional information. 4.69% of the stock is owned by company insiders.

KB Home Stock Up 0.1%

Shares of KBH opened at $55.45 on Monday. The business’s fifty day moving average is $56.86 and its 200 day moving average is $55.28. KB Home has a 12-month low of $44.03 and a 12-month high of $68.71. The stock has a market cap of $3.40 billion, a P/E ratio of 19.32, a P/E/G ratio of 9.18 and a beta of 1.35.

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

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued 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 was Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is currently 34.84%.

About KB Home

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.