Federated Hermes Inc. Trims Stake in KB Home (NYSE:KBH)

Federated Hermes Inc. trimmed its position in KB Home (NYSE:KBH) by 50.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,219 shares of the construction company’s stock after selling 74,873 shares during the quarter. Federated Hermes Inc. owned 0.10% of KB Home worth $5,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in KB Home in the first quarter worth about $60,000. Plato Investment Management Ltd raised its holdings in shares of KB Home by 72.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after purchasing an additional 452 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of KB Home by 625.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after purchasing an additional 963 shares during the period. Manchester Capital Management LLC boosted its stake in shares of KB Home by 134.4% during the first quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after purchasing an additional 652 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in KB Home during the first quarter valued at approximately $120,000. Institutional investors own 96.09% of the company’s stock.

KB Home Trading Down 0.1 %

Shares of KB Home stock opened at $86.63 on Thursday. The firm’s 50 day simple moving average is $81.45 and its two-hundred day simple moving average is $72.79. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.80 and a beta of 1.81. KB Home has a 12-month low of $42.11 and a 12-month high of $89.37.

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

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is presently 13.23%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KBH shares. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Evercore ISI raised their price objective on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Wedbush reiterated a “neutral” rating and issued a $67.00 target price on shares of KB Home in a report on Thursday, September 12th. Keefe, Bruyette & Woods raised their price target on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average target price of $73.71.

KB Home 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.