Assenagon Asset Management S.A. Raises Stock Holdings in KB Home (NYSE:KBH)

Assenagon Asset Management S.A. grew its stake in KB Home (NYSE:KBH) by 112.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,131 shares of the construction company’s stock after buying an additional 31,288 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of KB Home worth $3,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KBH. Harbor Capital Advisors Inc. increased its position in KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock worth $35,000 after buying an additional 258 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares in the last quarter. Principal Securities Inc. grew its position in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. UMB Bank n.a. grew its position in shares of KB Home by 1,256.9% during the first quarter. UMB Bank n.a. now owns 977 shares of the construction company’s stock worth $57,000 after purchasing an additional 905 shares in the last quarter. Finally, Amundi grew its position in shares of KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KBH shares. Seaport Res Ptn upgraded KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Keefe, Bruyette & Woods cut their target price on KB Home from $76.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, March 26th. Wedbush reissued a “neutral” rating and set a $75.00 price target on shares of KB Home in a research note on Tuesday, March 25th. Wall Street Zen lowered KB Home from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Finally, UBS Group dropped their price target on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.05.

Insider Buying and Selling

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the transaction, the director now directly owns 10,262 shares in the company, valued at $558,047.56. This trade represents a 32.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.89% of the stock is owned by corporate insiders.

KB Home Price Performance

Shares of KBH stock opened at $52.36 on Monday. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The firm has a market capitalization of $3.76 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.90 and a beta of 1.35. The stock has a 50 day moving average price of $52.94 and a 200 day moving average price of $61.07.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted $1.76 earnings per share. KB Home’s revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, May 8th. KB Home’s dividend payout ratio is currently 12.20%.

KB Home 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.