Deprince Race & Zollo Inc. Invests $59.30 Million in KB Home $KBH

Deprince Race & Zollo Inc. acquired a new position in shares of KB Home (NYSE:KBH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 931,823 shares of the construction company’s stock, valued at approximately $59,301,000. KB Home comprises about 1.2% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 18th largest holding. Deprince Race & Zollo Inc. owned approximately 1.44% of KB Home as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in KB Home during the first quarter worth about $209,000. AlphaQuest LLC bought a new position in shares of KB Home during the 1st quarter valued at about $60,000. Rafferty Asset Management LLC raised its holdings in shares of KB Home by 2.7% during the 1st quarter. Rafferty Asset Management LLC now owns 50,584 shares of the construction company’s stock valued at $2,940,000 after buying an additional 1,347 shares in the last quarter. Titleist Asset Management LLC bought a new stake in KB Home in the 1st quarter worth approximately $3,353,000. Finally, Graham Capital Management L.P. purchased a new stake in KB Home in the first quarter worth approximately $983,000. Institutional investors own 96.09% of the company’s stock.

Insider Activity at KB Home

In related news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

KB Home Trading Down 0.1%

KBH stock opened at $57.34 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.33 and a beta of 1.40. The firm’s 50-day moving average price is $61.76 and its two-hundred day moving average price is $60.21. KB Home has a 12-month low of $48.90 and a 12-month high of $72.64.

KB Home (NYSE:KBH) last posted its earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.13. KB Home had a return on equity of 11.40% and a net margin of 6.88%.The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm earned $2.52 earnings per share. KB Home’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. KB Home’s payout ratio is 20.37%.

Analyst Ratings Changes

Several research firms have commented on KBH. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. Bank of America decreased their target price on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Barclays cut their price target on shares of KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. UBS Group reaffirmed a “buy” rating on shares of KB Home in a research note on Friday, December 19th. Finally, Zacks Research lowered KB Home from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.09.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.