Gabelli Funds LLC Purchases 74,984 Shares of KB Home $KBH

Gabelli Funds LLC increased its position in shares of KB Home (NYSE:KBH) by 200.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,484 shares of the construction company’s stock after purchasing an additional 74,984 shares during the period. Gabelli Funds LLC owned 0.17% of KB Home worth $5,958,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in KB Home by 7.4% during the second quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock valued at $94,530,000 after acquiring an additional 123,030 shares during the period. Norges Bank purchased a new stake in shares of KB Home during the second quarter worth about $55,329,000. AQR Capital Management LLC raised its stake in KB Home by 116.1% during the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company’s stock valued at $53,957,000 after purchasing an additional 506,415 shares during the period. Bank of New York Mellon Corp lifted its holdings in KB Home by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock worth $40,627,000 after purchasing an additional 3,308 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in KB Home by 1.5% in the 2nd quarter. Systematic Financial Management LP now owns 499,844 shares of the construction company’s stock worth $26,477,000 after purchasing an additional 7,404 shares during the period. Institutional investors own 96.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KBH shares. Bank of America reduced their price objective on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and issued a $83.00 price target on shares of KB Home in a research note on Thursday, September 25th. JPMorgan Chase & Co. cut their price objective on KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Finally, Raymond James Financial lifted their target price on KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $64.36.

Insider Buying and Selling at KB Home

In other news, EVP Albert Z. Praw sold 20,284 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the sale, the executive vice president owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.89% of the company’s stock.

KB Home Stock Down 1.2%

KB Home stock opened at $61.66 on Wednesday. The company’s 50-day moving average price is $61.92 and its 200-day moving average price is $59.46. The company has a market cap of $3.99 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 5.07 and a beta of 1.40. KB Home has a twelve month low of $48.90 and a twelve month high of $78.93.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.11. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the company earned $2.04 EPS. As a group, sell-side analysts expect 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 was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. KB Home’s payout ratio is 13.25%.

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.