Los Angeles Capital Management LLC Purchases 9,620 Shares of KB Home (NYSE:KBH)

Los Angeles Capital Management LLC boosted its position in KB Home (NYSE:KBH) by 61.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,239 shares of the construction company’s stock after acquiring an additional 9,620 shares during the period. Los Angeles Capital Management LLC’s holdings in KB Home were worth $1,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KBH. Natixis Advisors L.P. increased its holdings in KB Home by 1.7% during the 4th quarter. Natixis Advisors L.P. now owns 25,453 shares of the construction company’s stock valued at $1,589,000 after purchasing an additional 419 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of KB Home during the fourth quarter valued at $276,000. Victory Capital Management Inc. grew its position in KB Home by 55.2% in the 4th quarter. Victory Capital Management Inc. now owns 70,746 shares of the construction company’s stock worth $4,419,000 after purchasing an additional 25,161 shares during the period. Beck Bode LLC increased its position in KB Home by 0.4% during the fourth quarter. Beck Bode LLC now owns 57,114 shares of the construction company’s stock valued at $3,567,000 after acquiring an additional 228 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in KB Home by 32.8% during the fourth quarter. Van ECK Associates Corp now owns 20,207 shares of the construction company’s stock valued at $1,262,000 after buying an additional 4,990 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Wedbush raised their price target on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada upped their price objective on KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company increased their price target on shares of KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus target price of $66.11.

KB Home Stock Down 0.4 %

KBH opened at $69.74 on Wednesday. The company has a market cap of $5.29 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.78 and a beta of 1.74. The firm’s 50-day moving average price is $66.84 and its 200-day moving average price is $60.60. KB Home has a 52-week low of $42.11 and a 52-week high of $72.00.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $1.45 EPS. KB Home’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. KB Home’s payout ratio is presently 10.88%.

Insider Activity

In related news, CFO Jeff Kaminski sold 38,386 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,294,522.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.52% of the company’s stock.

KB Home Company 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.