Legal & General Group Plc Takes $5.13 Million Position in KB Home $KBH

Legal & General Group Plc purchased a new position in shares of KB Home (NYSE:KBH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 81,996 shares of the construction company’s stock, valued at approximately $5,132,000.

A number of other institutional investors have also recently added to or reduced their stakes in KBH. Vista Investment Management boosted its position in KB Home by 3.5% in the 4th quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock valued at $289,000 after buying an additional 175 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of KB Home by 80.0% in the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after acquiring an additional 250 shares in the last quarter. Nebula Research & Development LLC boosted its holdings in KB Home by 6.3% in the second quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after purchasing an additional 262 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in KB Home by 5.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KBH. Wells Fargo & Company lifted their price objective on KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $77.00 price target on shares of KB Home in a report on Wednesday, June 24th. UBS Group increased their price objective on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Truist Financial raised their price objective on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, KB Home presently has an average rating of “Hold” and an average target price of $60.17.

Insider Buying and Selling at KB Home

In other KB Home news, EVP Albert Praw sold 22,015 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur Collins sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares in the company, valued at approximately $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.69% of the stock is owned by insiders.

KB Home Stock Up 0.3%

NYSE:KBH opened at $52.23 on Friday. The business’s 50 day moving average is $56.72 and its two-hundred day moving average is $54.76. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The company has a market cap of $3.20 billion, a PE ratio of 18.20, a P/E/G ratio of 2.67 and a beta of 1.34.

KB Home (NYSE:KBH) last issued 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). The firm had revenue of $1.11 billion during 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%. KB Home’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, sell-side analysts expect that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.9%. KB Home’s payout ratio is presently 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.