Federated Hermes Inc. Buys 34,647 Shares of KB Home (NYSE:KBH)

Federated Hermes Inc. grew its stake in shares of KB Home (NYSE:KBH) by 30.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 150,009 shares of the construction company’s stock after acquiring an additional 34,647 shares during the quarter. Federated Hermes Inc.’s holdings in KB Home were worth $9,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KBH. Fifth Third Bancorp lifted its position in shares of KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock worth $43,000 after buying an additional 270 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of KB Home during the 4th quarter worth $56,000. Whittier Trust Co. bought a new stake in shares of KB Home during the 4th quarter worth $62,000. CI Investments Inc. bought a new stake in shares of KB Home during the 3rd quarter worth $145,000. Finally, NBC Securities Inc. bought a new stake in shares of KB Home during the 3rd quarter worth $196,000. 96.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the completion of the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the completion of the sale, the chief executive officer now owns 1,491,298 shares of the company’s stock, valued at $88,583,101.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The disclosure for this sale can be found here. Insiders sold 347,936 shares of company stock valued at $21,090,453 over the last 90 days. Company insiders own 4.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on KBH shares. UBS Group upped their price objective on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Raymond James upped their price objective on KB Home from $61.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. The Goldman Sachs Group increased their target price on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Barclays increased their target price on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. increased their target price on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. One equities research analyst has 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 company has a consensus rating of “Hold” and an average target price of $66.11.

KB Home Trading Up 4.7 %

Shares of KBH stock opened at $65.61 on Wednesday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.69 and a beta of 1.73. The stock has a 50-day moving average of $66.01 and a 200-day moving average of $59.00. KB Home has a 1-year low of $40.97 and a 1-year high of $72.00.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Sell-side analysts forecast that KB Home will post 8.01 earnings per share for the current year.

KB Home Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 1.52%. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s dividend payout ratio (DPR) is currently 13.61%.

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.