Panagora Asset Management Inc. Grows Stock Position in KB Home (NYSE:KBH)

Panagora Asset Management Inc. lifted its holdings in shares of KB Home (NYSE:KBH) by 6.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 174,507 shares of the construction company’s stock after acquiring an additional 10,893 shares during the period. Panagora Asset Management Inc. owned approximately 0.23% of KB Home worth $12,247,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in KB Home in the 4th quarter worth $733,000. GAMMA Investing LLC purchased a new position in shares of KB Home in the fourth quarter worth about $47,000. Van ECK Associates Corp lifted its holdings in shares of KB Home by 32.8% during the fourth quarter. Van ECK Associates Corp now owns 20,207 shares of the construction company’s stock worth $1,262,000 after purchasing an additional 4,990 shares during the period. Beck Bode LLC lifted its holdings in shares of KB Home by 0.4% during the fourth quarter. Beck Bode LLC now owns 57,114 shares of the construction company’s stock worth $3,567,000 after purchasing an additional 228 shares during the period. Finally, Victory Capital Management Inc. increased its holdings 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 buying an additional 25,161 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analyst Ratings Changes

KBH has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of KB Home from $69.00 to $70.00 and gave the company a “sector perform” rating in a research note on Thursday, June 20th. Evercore ISI upped their price target on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Zelman & Associates restated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a research note on Monday, May 13th. Keefe, Bruyette & Woods lifted their price target on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, Wedbush boosted 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.88.

KB Home Stock Performance

Shares of KBH stock traded up $0.29 on Friday, reaching $83.71. 1,009,163 shares of the company were exchanged, compared to its average volume of 1,272,326. KB Home has a 1 year low of $42.11 and a 1 year high of $88.31. The business has a 50-day moving average price of $77.39 and a 200 day moving average price of $70.84. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 0.84 and a beta of 1.80.

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. KB Home’s payout ratio is currently 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.