ProShare Advisors LLC Sells 1,278 Shares of KB Home (NYSE:KBH)

ProShare Advisors LLC reduced its position in shares of KB Home (NYSE:KBH) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,786 shares of the construction company’s stock after selling 1,278 shares during the period. ProShare Advisors LLC’s holdings in KB Home were worth $554,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. BOKF NA bought a new position in shares of KB Home during the first quarter valued at about $201,000. Acadian Asset Management LLC lifted its position in shares of KB Home by 114.4% during the first quarter. Acadian Asset Management LLC now owns 40,955 shares of the construction company’s stock valued at $1,645,000 after purchasing an additional 21,857 shares in the last quarter. FMR LLC raised its position in KB Home by 24.7% in the first quarter. FMR LLC now owns 6,188,991 shares of the construction company’s stock worth $248,674,000 after acquiring an additional 1,225,187 shares during the period. Cerity Partners LLC purchased a new position in KB Home in the first quarter valued at about $242,000. Finally, American Century Companies Inc. boosted its stake in KB Home by 2,264.4% in the first quarter. American Century Companies Inc. now owns 551,323 shares of the construction company’s stock valued at $21,838,000 after acquiring an additional 528,005 shares during the last quarter. 91.27% of the stock is owned by institutional investors.

KB Home Trading Up 1.4 %

KB Home stock opened at $50.72 on Friday. The firm’s 50 day simple moving average is $51.85 and its 200 day simple moving average is $45.59. The firm has a market capitalization of $4.09 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 1.10 and a beta of 1.68. KB Home has a 1-year low of $25.31 and a 1-year high of $55.37.

KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, June 21st. The construction company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.61. KB Home had a net margin of 10.98% and a return on equity of 20.85%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $2.32 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that KB Home will post 6.29 earnings per share for the current year.

KB Home Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, August 2nd. This is a boost from KB Home’s previous quarterly dividend of $0.15. KB Home’s payout ratio is currently 9.17%.

Insiders Place Their Bets

In other news, CAO William R. Hollinger sold 4,529 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $50.65, for a total value of $229,393.85. Following the completion of the sale, the chief accounting officer now owns 155,769 shares of the company’s stock, valued at approximately $7,889,699.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other KB Home news, CAO William R. Hollinger sold 4,529 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $50.65, for a total transaction of $229,393.85. Following the completion of the sale, the chief accounting officer now owns 155,769 shares of the company’s stock, valued at approximately $7,889,699.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Melissa Lora sold 9,649 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $53.19, for a total transaction of $513,230.31. Following the sale, the director now directly owns 180,619 shares of the company’s stock, valued at approximately $9,607,124.61. The disclosure for this sale can be found here. Insiders sold a total of 162,574 shares of company stock valued at $8,399,080 in the last quarter. Corporate insiders own 4.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KBH. Credit Suisse Group boosted their target price on shares of KB Home from $42.00 to $51.00 in a research note on Thursday, June 22nd. Wedbush boosted their target price on shares of KB Home from $55.00 to $64.00 in a research note on Thursday, June 22nd. Royal Bank of Canada boosted their price target on shares of KB Home from $37.00 to $52.00 in a research report on Thursday, June 22nd. Wolfe Research boosted their price target on shares of KB Home from $29.00 to $43.00 in a research report on Thursday, June 22nd. Finally, Bank of America boosted their price target on shares of KB Home from $52.00 to $53.00 in a research report on Thursday, June 22nd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.27.

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.