Ballentine Partners LLC Buys 1,790 Shares of KB Home (NYSE:KBH)

Ballentine Partners LLC lifted its stake in shares of KB Home (NYSE:KBH) by 26.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,457 shares of the construction company’s stock after acquiring an additional 1,790 shares during the quarter. Ballentine Partners LLC’s holdings in KB Home were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its stake in KB Home by 433.0% in the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock worth $30,000 after purchasing an additional 394 shares during the period. GAMMA Investing LLC purchased a new stake in KB Home during the 4th quarter valued at $47,000. Daiwa Securities Group Inc. purchased a new stake in KB Home during the 4th quarter valued at $56,000. Whittier Trust Co. purchased a new stake in KB Home during the 4th quarter valued at $62,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in KB Home during the 4th quarter valued at $130,000. 96.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the executive vice president now owns 135,512 shares in the company, valued at approximately $9,500,746.32. The disclosure for this sale can be found here. Insiders sold a total of 64,460 shares of company stock valued at $4,384,468 over the last 90 days. Insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. 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. Evercore ISI lifted their target price on KB Home from $78.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Finally, Wedbush increased 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, KB Home currently has a consensus rating of “Hold” and a consensus price target of $71.63.

KB Home Stock Performance

Shares of KB Home stock traded down $0.16 during trading on Monday, hitting $70.38. 104,278 shares of the company’s stock were exchanged, compared to its average volume of 1,220,918. The business has a 50-day simple moving average of $68.25 and a 200-day simple moving average of $65.16. KB Home has a 52-week low of $42.11 and a 52-week high of $74.65. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.78 and a beta of 1.77.

KB Home Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, May 8th. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is 13.23%.

About KB Home

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.