Bank of New York Mellon Corp Acquires 15,867 Shares of KB Home (NYSE:KBH)

Bank of New York Mellon Corp increased its position in shares of KB Home (NYSE:KBH) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 756,810 shares of the construction company’s stock after acquiring an additional 15,867 shares during the quarter. Bank of New York Mellon Corp owned about 1.05% of KB Home worth $49,738,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KBH. Principal Securities Inc. raised its position 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 acquiring an additional 179 shares during the period. Blue Trust Inc. grew its holdings in shares of KB Home by 15.3% in the fourth quarter. Blue Trust Inc. now owns 1,465 shares of the construction company’s stock valued at $96,000 after purchasing an additional 194 shares during the period. Jupiter Wealth Management LLC grew its holdings in shares of KB Home by 1.2% in the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock valued at $1,619,000 after purchasing an additional 225 shares during the period. Pathstone Holdings LLC boosted its stake in KB Home by 1.3% during the third quarter. Pathstone Holdings LLC now owns 20,528 shares of the construction company’s stock worth $1,759,000 after buying an additional 263 shares during the period. Finally, Hancock Whitney Corp boosted its stake in KB Home by 1.1% during the third quarter. Hancock Whitney Corp now owns 24,208 shares of the construction company’s stock worth $2,074,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on KBH. Wells Fargo & Company lowered their price objective on shares of KB Home from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Tuesday, January 28th. Seaport Res Ptn raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Raymond James restated an “outperform” rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Finally, Barclays cut their price target on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.21.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction 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. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.44% of the company’s stock.

KB Home Trading Up 2.0 %

NYSE KBH opened at $61.97 on Thursday. KB Home has a 12 month low of $59.00 and a 12 month high of $89.70. The company has a 50-day moving average of $65.06 and a 200-day moving average of $74.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The company has a market cap of $4.47 billion, a P/E ratio of 7.32, a P/E/G ratio of 0.90 and a beta of 1.86.

KB Home (NYSE:KBH) last issued its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, February 6th. KB Home’s payout ratio is currently 11.81%.

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.