Sequoia Financial Advisors LLC Takes $1.69 Million Position in KB Home (NYSE:KBH)

Sequoia Financial Advisors LLC acquired a new stake in shares of KB Home (NYSE:KBH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,074 shares of the construction company’s stock, valued at approximately $1,690,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wedge Capital Management L L P NC increased its position in shares of KB Home by 2,728.9% in the first quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock worth $45,567,000 after acquiring an additional 620,144 shares in the last quarter. Norges Bank bought a new stake in KB Home during the 4th quarter valued at approximately $36,761,000. Swedbank AB acquired a new stake in KB Home in the 1st quarter worth $13,047,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of KB Home by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 129,409 shares of the construction company’s stock valued at $8,083,000 after purchasing an additional 62,897 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of KB Home by 15,718.8% during the 1st quarter. Acadian Asset Management LLC now owns 63,275 shares of the construction company’s stock worth $4,481,000 after buying an additional 62,875 shares during the period. 96.09% of the stock is currently owned by institutional investors.

KB Home Price Performance

KBH traded up $0.26 during trading on Tuesday, reaching $79.53. 203,343 shares of the stock were exchanged, compared to its average volume of 1,271,043. The business’s 50 day moving average price is $74.02 and its two-hundred day moving average price is $68.99. KB Home has a 1 year low of $42.11 and a 1 year high of $88.31. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 0.84 and a beta of 1.80.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. On average, analysts anticipate that KB Home will post 8.38 EPS for the current year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on KBH. Wedbush raised their price target on KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Evercore ISI increased their price target on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada upped their price target on KB Home from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Thursday, June 20th. Zelman & Associates restated an “underperform” rating and set a $69.00 price target on shares of KB Home in a research report on Monday, May 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.88.

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.