M&T Bank Corp Boosts Stake in KB Home (NYSE:KBH)

M&T Bank Corp raised its holdings in shares of KB Home (NYSE:KBH) by 29.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,184 shares of the construction company’s stock after buying an additional 2,082 shares during the quarter. M&T Bank Corp’s holdings in KB Home were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of KB Home by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company’s stock valued at $44,384,000 after acquiring an additional 6,856 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its position in KB Home by 5.6% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 28,500 shares of the construction company’s stock valued at $1,656,000 after purchasing an additional 1,500 shares during the last quarter. Principal Financial Group Inc. raised its position in KB Home by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company’s stock valued at $12,102,000 after purchasing an additional 902 shares during the last quarter. Teacher Retirement System of Texas raised its position in KB Home by 148.0% during the 1st quarter. Teacher Retirement System of Texas now owns 100,068 shares of the construction company’s stock valued at $5,816,000 after purchasing an additional 59,718 shares during the last quarter. Finally, KBC Group NV raised its position in KB Home by 12.1% during the 1st quarter. KBC Group NV now owns 3,372 shares of the construction company’s stock valued at $196,000 after purchasing an additional 365 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of KBH opened at $53.67 on Wednesday. The business’s fifty day simple moving average is $53.20 and its two-hundred day simple moving average is $58.16. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 4.45 and a beta of 1.34.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the business posted $2.15 EPS. Research analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. KB Home’s dividend payout ratio (DPR) is currently 13.25%.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of recent analyst reports. Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada decreased their target price on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 25th. Evercore ISI decreased their target price on KB Home from $77.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Bank of America decreased their target price on KB Home from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Finally, Wedbush restated a “neutral” rating and issued a $75.00 price target on shares of KB Home in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $66.14.

Insider Buying and Selling

In related 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 value of $271,900.00. Following the transaction, the director directly owned 10,262 shares of the company’s stock, valued at approximately $558,047.56. This trade represents a 32.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.89% of the company’s stock.

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.