LSV Asset Management Sells 62,400 Shares of KB Home (NYSE:KBH)

LSV Asset Management decreased its position in KB Home (NYSE:KBH) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,600 shares of the construction company’s stock after selling 62,400 shares during the quarter. LSV Asset Management owned approximately 0.64% of KB Home worth $34,278,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in KBH. Vanguard Group Inc. raised its stake in KB Home by 3.5% in the third quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock valued at $361,896,000 after purchasing an additional 263,194 shares in the last quarter. American Century Companies Inc. boosted its holdings in KB Home by 32.3% in the third quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock valued at $57,927,000 after acquiring an additional 305,820 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in KB Home by 2,728.9% during the first quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock valued at $45,567,000 after buying an additional 620,144 shares during the period. Norges Bank purchased a new position in KB Home during the fourth quarter valued at $36,761,000. Finally, Principal Financial Group Inc. lifted its position in KB Home by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company’s stock valued at $19,993,000 after buying an additional 3,983 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Trading Up 3.1 %

Shares of KBH stock traded up $2.32 during trading hours on Friday, reaching $76.11. 2,951,590 shares of the stock were exchanged, compared to its average volume of 1,252,492. KB Home has a 12-month low of $42.11 and a 12-month high of $78.19. The company’s 50-day moving average price is $69.50 and its 200-day moving average price is $65.93. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.80.

KB Home Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 8th. This is a boost 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 1.31%. KB Home’s payout ratio is currently 13.23%.

Analysts Set New Price Targets

KBH has been the subject of several recent analyst reports. Evercore ISI lifted their price target on KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. boosted their target price on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Zelman & Associates reissued an “underperform” rating and issued a $69.00 target price on shares of KB Home in a research report on Monday, May 13th. Barclays boosted their price target on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, Wedbush boosted their price target on KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.63.

Insider Buying and Selling

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

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.