Assenagon Asset Management S.A. Purchases 228,853 Shares of KB Home $KBH

Assenagon Asset Management S.A. raised its position in KB Home (NYSE:KBH) by 76.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 529,592 shares of the construction company’s stock after buying an additional 228,853 shares during the period. Assenagon Asset Management S.A. owned 0.78% of KB Home worth $33,703,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Mirador Capital Partners LP bought a new position in shares of KB Home in the third quarter valued at approximately $271,000. GAMMA Investing LLC boosted its position in KB Home by 31.4% in the third quarter. GAMMA Investing LLC now owns 3,888 shares of the construction company’s stock worth $247,000 after purchasing an additional 930 shares during the last quarter. Corient Private Wealth LLC grew its stake in KB Home by 20.7% in the 2nd quarter. Corient Private Wealth LLC now owns 21,146 shares of the construction company’s stock valued at $1,120,000 after purchasing an additional 3,633 shares during the period. Osaic Holdings Inc. increased its position in shares of KB Home by 47.8% during the 2nd quarter. Osaic Holdings Inc. now owns 9,707 shares of the construction company’s stock valued at $531,000 after purchasing an additional 3,138 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of KB Home by 3.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 16,890 shares of the construction company’s stock valued at $895,000 after purchasing an additional 619 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Analysts Set New Price Targets

KBH has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a report on Wednesday, October 8th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Royal Bank Of Canada increased their target price on shares of KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a research report on Thursday, September 25th. Evercore ISI set a $65.00 price target on shares of KB Home and gave the stock an “in-line” rating in a research note on Tuesday, October 7th. Finally, Oppenheimer started coverage on KB Home in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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 company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.89% of the stock is currently owned by corporate insiders.

KB Home Trading Down 0.3%

KBH opened at $62.78 on Friday. KB Home has a 12 month low of $48.90 and a 12 month high of $72.64. The company has a market cap of $4.07 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 5.12 and a beta of 1.40. The company has a 50 day moving average of $62.13 and a 200 day moving average of $59.96.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.11. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 earnings per share. Research analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, November 13th. KB Home’s payout ratio is presently 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.