Envestnet Asset Management Inc. Has $557,000 Stake in KB Home (NYSE:KBH)

Envestnet Asset Management Inc. decreased its position in shares of KB Home (NYSE:KBH) by 19.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,587 shares of the construction company’s stock after selling 2,346 shares during the period. Envestnet Asset Management Inc.’s holdings in KB Home were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KBH. Wealth Enhancement Advisory Services LLC raised its position in shares of KB Home by 3.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company’s stock valued at $1,392,000 after buying an additional 819 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of KB Home by 0.4% during the first quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company’s stock valued at $12,102,000 after buying an additional 902 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of KB Home by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company’s stock valued at $44,384,000 after buying an additional 6,856 shares during the last quarter. SG Americas Securities LLC raised its position in shares of KB Home by 11.5% during the first quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company’s stock valued at $596,000 after buying an additional 1,057 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of KB Home by 64.3% during the first quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company’s stock valued at $96,000 after buying an additional 649 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Activity at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the sale, the director owned 10,262 shares of the company’s stock, valued at approximately $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert V. Mcgibney sold 14,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the sale, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.89% of the company’s stock.

KB Home Stock Performance

NYSE KBH opened at $59.36 on Wednesday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 4.67 and a beta of 1.34. The company has a 50 day moving average of $54.12 and a 200-day moving average of $57.20. 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 1-year low of $48.90 and a 1-year high of $89.70.

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. KB Home’s dividend payout ratio (DPR) is presently 13.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KBH shares. Barclays set a $49.00 price objective on shares of KB Home and gave the company an “equal weight” rating in a research report on Tuesday, June 24th. Keefe, Bruyette & Woods cut their price objective on shares of KB Home from $65.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, June 26th. Bank of America cut their price objective on shares of KB Home from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $52.00 price target (down previously from $53.00) on shares of KB Home in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and an average price target of $66.14.

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.