Sequoia Financial Advisors LLC Makes New $1.69 Million Investment in KB Home (NYSE:KBH)

Sequoia Financial Advisors LLC purchased a new stake in KB Home (NYSE:KBH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,074 shares of the construction company’s stock, valued at approximately $1,690,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake in shares of KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after acquiring an additional 18,981 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in KB Home by 2,728.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock valued at $45,567,000 after acquiring an additional 620,144 shares in the last quarter. Norges Bank bought a new position in shares of KB Home during the 4th quarter valued at $36,761,000. Principal Financial Group Inc. lifted its holdings in shares of KB Home by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company’s stock valued at $19,993,000 after buying an additional 3,983 shares during the period. Finally, Donald Smith & CO. Inc. raised its holdings in KB Home by 1.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 283,124 shares of the construction company’s stock worth $17,684,000 after purchasing an additional 3,098 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Performance

KBH traded up $0.26 on Tuesday, hitting $79.53. 203,343 shares of the company were exchanged, compared to its average volume of 1,271,043. The business’s fifty day moving average is $74.02 and its 200 day moving average is $68.99. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $88.31. The firm has a market capitalization of $5.98 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80.

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

KB Home Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.