MQS Management LLC Takes Position in KB Home (NYSE:KBH)

MQS Management LLC bought a new stake in KB Home (NYSE:KBH) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,991 shares of the construction company’s stock, valued at approximately $425,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP lifted its position in KB Home by 56.5% during the 1st quarter. Seven Eight Capital LP now owns 11,346 shares of the construction company’s stock worth $804,000 after buying an additional 4,096 shares in the last quarter. Edgestream Partners L.P. lifted its position in KB Home by 139.3% during the 1st quarter. Edgestream Partners L.P. now owns 11,162 shares of the construction company’s stock worth $791,000 after buying an additional 6,497 shares in the last quarter. Acadian Asset Management LLC lifted its position in KB Home by 15,718.8% during the 1st quarter. Acadian Asset Management LLC now owns 63,275 shares of the construction company’s stock worth $4,481,000 after buying an additional 62,875 shares in the last quarter. Foundry Partners LLC lifted its position in KB Home by 17.8% during the 1st quarter. Foundry Partners LLC now owns 103,744 shares of the construction company’s stock worth $7,353,000 after buying an additional 15,674 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in KB Home by 65.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,917 shares of the construction company’s stock worth $2,475,000 after buying an additional 13,780 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Price Performance

NYSE KBH traded up $1.70 during trading on Thursday, reaching $81.46. The company’s stock had a trading volume of 1,228,780 shares, compared to its average volume of 1,278,328. The stock has a market capitalization of $6.13 billion, a PE ratio of 10.78, a P/E/G ratio of 0.82 and a beta of 1.80. The firm has a fifty day moving average of $71.35 and a 200 day moving average of $67.17. KB Home has a one year low of $42.11 and a one year high of $83.74.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (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 business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.64 billion. Research analysts expect that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 8th. KB Home’s payout ratio is presently 13.23%.

Insider Activity

In related news, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 48,217 shares of the company’s stock, valued at approximately $3,398,334.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Albert Z. Praw sold 22,160 shares of KB Home 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 completion of the sale, the executive vice president now 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 accessible through this hyperlink. Also, Director Thomas W. Gilligan sold 3,914 shares of KB Home 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 of the company’s stock, valued at approximately $3,398,334.16. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KBH shares. Evercore ISI upped their price target 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. Wedbush upped their target price on shares of KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. upped their price target on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Royal Bank of Canada increased their target price on KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 20th. Finally, Zelman & Associates reaffirmed an “underperform” rating and set a $69.00 price target on shares of KB Home in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.