JPMorgan Chase & Co. Raises Position in KB Home (NYSE:KBH)

JPMorgan Chase & Co. lifted its stake in shares of KB Home (NYSE:KBH) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 727,809 shares of the construction company’s stock after buying an additional 142,913 shares during the period. JPMorgan Chase & Co. owned about 1.01% of KB Home worth $47,832,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after acquiring an additional 214 shares during the last quarter. Principal Securities Inc. boosted its holdings in KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Versant Capital Management Inc grew its position in KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares in the last quarter. Amundi increased its stake in KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after buying an additional 201 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of KB Home during the 3rd quarter worth approximately $59,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

KB Home stock opened at $57.61 on Friday. The firm has a fifty day simple moving average of $62.45 and a two-hundred day simple moving average of $71.48. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. KB Home has a twelve month low of $54.02 and a twelve month high of $89.70. The company has a market capitalization of $4.12 billion, a PE ratio of 6.80, a P/E/G ratio of 0.90 and a beta of 1.65.

KB Home (NYSE:KBH) last released its earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm posted $1.76 EPS. The company’s revenue was down 5.2% on a year-over-year basis. Research analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio is 12.20%.

Wall Street Analysts Forecast Growth

KBH has been the subject of several recent analyst reports. Bank of America reduced their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Royal Bank of Canada decreased their target price on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their price target on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. UBS Group lowered their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, Evercore ISI increased their target price on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $71.21.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.89% of the stock is currently owned by corporate insiders.

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.