Plato Investment Management Ltd Grows Stock Holdings in KB Home (NYSE:KBH)

Plato Investment Management Ltd boosted its holdings in shares of KB Home (NYSE:KBH) by 72.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,080 shares of the construction company’s stock after purchasing an additional 452 shares during the quarter. Plato Investment Management Ltd’s holdings in KB Home were worth $77,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Jump Financial LLC raised its stake in shares of KB Home by 422.3% in the fourth quarter. Jump Financial LLC now owns 60,099 shares of the construction company’s stock valued at $3,754,000 after acquiring an additional 48,593 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of KB Home in the first quarter valued at $935,000. International Assets Investment Management LLC purchased a new stake in shares of KB Home in the fourth quarter valued at $733,000. Entropy Technologies LP purchased a new stake in shares of KB Home in the first quarter valued at $640,000. Finally, FCF Advisors LLC raised its stake in shares of KB Home by 102.9% in the first quarter. FCF Advisors LLC now owns 21,882 shares of the construction company’s stock valued at $1,551,000 after acquiring an additional 11,099 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

Shares of KBH stock traded down $3.14 during mid-day trading on Thursday, hitting $82.94. 1,192,210 shares of the stock traded hands, compared to its average volume of 1,282,301. The stock has a market cap of $6.24 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.87 and a beta of 1.80. The stock’s fifty day moving average is $72.42 and its two-hundred day moving average is $67.84. KB Home has a 52-week low of $42.11 and a 52-week high of $88.31.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.78 by $0.37. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. As a group, equities analysts forecast that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 8th. KB Home’s payout ratio is currently 13.23%.

Analysts Set New Price Targets

KBH has been the topic of several recent analyst reports. StockNews.com downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Zelman & Associates restated an “underperform” rating and issued a $69.00 price target on shares of KB Home in a report on Monday, May 13th. Evercore ISI upped their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada upped their price target on shares of KB Home from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.88.

Insider Activity at KB Home

In other KB Home news, Director Thomas W. Gilligan sold 3,914 shares of KB Home stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now directly owns 48,217 shares in the company, valued at approximately $3,398,334.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the completion of the sale, the executive vice president now directly owns 135,512 shares in the company, valued at approximately $9,500,746.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas W. Gilligan sold 3,914 shares of KB Home stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the transaction, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by 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.