Skandinaviska Enskilda Banken AB publ Boosts Stake in KB Home (NYSE:KBH)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of KB Home (NYSE:KBH) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 695,966 shares of the construction company’s stock after purchasing an additional 67,628 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.93% of KB Home worth $48,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in KB Home during the 4th quarter valued at about $36,761,000. Dynamic Technology Lab Private Ltd bought a new position in KB Home during the fourth quarter valued at approximately $759,000. Wells Fargo & Company MN lifted its position in KB Home by 45.1% during the fourth quarter. Wells Fargo & Company MN now owns 140,728 shares of the construction company’s stock valued at $8,790,000 after purchasing an additional 43,748 shares during the period. Corient Private Wealth LLC boosted its holdings in KB Home by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 18,597 shares of the construction company’s stock worth $1,162,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in KB Home in the 4th quarter worth approximately $676,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Price Performance

Shares of KBH stock opened at $89.65 on Friday. KB Home has a one year low of $42.11 and a one year high of $89.70. The company’s fifty day moving average price is $81.77 and its 200-day moving average price is $72.90. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.80 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.64 billion. Equities research analysts expect that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. The Goldman Sachs Group raised their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America boosted their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush reiterated a “neutral” rating and issued a $67.00 price objective on shares of KB Home in a research note on Thursday, September 12th. Finally, Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.96.

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.