Verity Asset Management Inc. Has $233,000 Stake in KB Home (NYSE:KBH)

Verity Asset Management Inc. trimmed its holdings in KB Home (NYSE:KBH) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,285 shares of the construction company’s stock after selling 991 shares during the period. Verity Asset Management Inc.’s holdings in KB Home were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers bought a new position in KB Home during the first quarter worth about $1,588,000. Invst LLC acquired a new position in shares of KB Home during the first quarter worth $824,000. Swedbank AB acquired a new stake in shares of KB Home during the first quarter valued at about $13,047,000. Virtu Financial LLC bought a new stake in KB Home during the 1st quarter worth approximately $1,078,000. Finally, EMC Capital Management grew its stake in shares of KB Home by 26.7% in the first quarter. EMC Capital Management now owns 4,877 shares of the construction company’s stock worth $346,000 after purchasing an additional 1,029 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction 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 of the company’s stock, valued at approximately $9,500,746.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KB Home news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total value of $275,858.72. Following the completion of the sale, the director now owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was 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 owns 135,512 shares of the company’s stock, valued at $9,500,746.32. The disclosure for this sale can be found here. 4.44% of the stock is owned by company insiders.

KB Home Stock Performance

NYSE KBH traded down $1.85 on Friday, hitting $81.09. The stock had a trading volume of 1,586,130 shares, compared to its average volume of 1,599,841. The firm has a 50-day moving average of $72.90 and a 200-day moving average of $68.09. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. KB Home has a 52-week low of $42.11 and a 52-week high of $88.31.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. As a group, research analysts anticipate that KB Home will post 8.38 earnings per share 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 1.23%. The ex-dividend date is Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is 13.23%.

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.