Intech Investment Management LLC Takes Position in KB Home (NYSE:KBH)

Intech Investment Management LLC bought a new position in KB Home (NYSE:KBH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,219 shares of the construction company’s stock, valued at approximately $1,559,000.

A number of other hedge funds also recently bought and sold shares of KBH. American Century Companies Inc. grew its position in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after buying an additional 147,326 shares during the last quarter. LSV Asset Management boosted its holdings in KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after acquiring an additional 572,800 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in KB Home by 2.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after purchasing an additional 18,981 shares during the period. Bank of New York Mellon Corp raised its holdings in KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after purchasing an additional 3,993 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of KB Home in the 4th quarter worth about $36,761,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

Shares of NYSE KBH opened at $88.20 on Tuesday. The firm’s 50 day moving average price is $82.22 and its 200-day moving average price is $73.24. KB Home has a 52-week low of $42.11 and a 52-week high of $89.70. The company has a market cap of $6.63 billion, a PE ratio of 11.67, a P/E/G ratio of 0.80 and a beta of 1.81.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.13%. KB Home’s payout ratio is 13.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KBH. The Goldman Sachs Group boosted their price target on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Evercore ISI raised their target price on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Bank of America upped their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods raised their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.