Wedge Capital Management L L P NC reduced its position in shares of KB Home (NYSE:KBH – Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,725 shares of the construction company’s stock after selling 1,235 shares during the period. Wedge Capital Management L L P NC’s holdings in KB Home were worth $1,419,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Foundry Partners LLC grew its holdings in KB Home by 7.3% during the fourth quarter. Foundry Partners LLC now owns 88,070 shares of the construction company’s stock worth $5,501,000 after acquiring an additional 5,981 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of KB Home by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 129,409 shares of the construction company’s stock valued at $8,083,000 after purchasing an additional 62,897 shares during the period. Federated Hermes Inc. boosted its position in shares of KB Home by 30.0% in the 4th quarter. Federated Hermes Inc. now owns 150,009 shares of the construction company’s stock valued at $9,370,000 after purchasing an additional 34,647 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of KB Home in the 4th quarter valued at $56,000. Finally, Scissortail Wealth Management LLC acquired a new position in shares of KB Home in the 4th quarter valued at $536,000. 96.09% of the stock is owned by institutional investors and hedge funds.
KB Home Price Performance
KBH opened at $64.25 on Friday. KB Home has a fifty-two week low of $40.97 and a fifty-two week high of $72.00. The business has a 50-day moving average of $66.10 and a 200-day moving average of $59.08. The company has a market capitalization of $4.87 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.73 and a beta of 1.73.
KB Home Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. KB Home’s dividend payout ratio (DPR) is 10.88%.
Insider Transactions at KB Home
In related news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian J. Woram sold 83,272 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total value of $5,040,454.16. Following the completion of the transaction, the executive vice president now directly owns 156,119 shares in the company, valued at $9,449,883.07. The disclosure for this sale can be found here. Insiders sold 172,629 shares of company stock valued at $10,675,718 in the last three months. Corporate insiders own 4.44% of the company’s stock.
Wall Street Analysts Forecast Growth
KBH has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. Wells Fargo & Company increased their price target on KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. The Goldman Sachs Group increased their price target on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Keefe, Bruyette & Woods raised their price objective on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.11.
View Our Latest Research Report on KBH
KB Home Company 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.
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