KB Home (NYSE:KBH) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in KB Home (NYSE:KBH) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,728 shares of the construction company’s stock after selling 23,757 shares during the quarter. UniSuper Management Pty Ltd owned approximately 0.17% of KB Home worth $8,912,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Manchester Capital Management LLC increased its position in shares of KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after buying an additional 394 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of KB Home in the first quarter valued at approximately $41,000. GAMMA Investing LLC purchased a new stake in shares of KB Home in the fourth quarter valued at approximately $47,000. Daiwa Securities Group Inc. purchased a new stake in shares of KB Home in the fourth quarter valued at approximately $56,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of KB Home in the first quarter valued at approximately $60,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Stock Up 1.4 %

Shares of KBH traded up $1.10 during midday trading on Tuesday, reaching $81.66. The company had a trading volume of 1,077,049 shares, compared to its average volume of 1,279,364. KB Home has a 1-year low of $42.11 and a 1-year high of $83.74. The stock has a market cap of $6.14 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.81 and a beta of 1.80. The firm has a 50 day simple moving average of $71.07 and a 200-day simple moving average of $66.98.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. As a group, sell-side analysts anticipate that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 8th. KB Home’s dividend payout ratio is presently 13.23%.

Insider Transactions at KB Home

In other news, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction on Friday, May 10th. The stock was 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 in the company, valued at approximately $9,500,746.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Albert Z. Praw sold 22,160 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was 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 in the company, valued at approximately $9,500,746.32. The sale was disclosed in a document filed 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 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 transaction, the director now 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. Company insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on KBH shares. Zelman & Associates restated an “underperform” rating and issued a $69.00 price objective on shares of KB Home in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their price target on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. StockNews.com cut KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI boosted their price target on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.88.

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.