Rockefeller Capital Management L.P. Acquires 8,061 Shares of KB Home (NYSE:KBH)

Posted by Defense World Staff on Jun 23rd, 2023

Rockefeller Capital Management L.P. raised its holdings in KB Home (NYSE:KBH – Get Rating) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,632 shares of the construction company’s stock after acquiring an additional 8,061 shares during the period. Rockefeller Capital Management L.P. owned about 0.11% of KB Home worth $2,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heritage Wealth Management LLC grew its position in KB Home by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 880 shares of the construction company’s stock valued at $28,000 after acquiring an additional 440 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in KB Home in the fourth quarter valued at about $29,000. Parallel Advisors LLC grew its position in KB Home by 45.4% in the fourth quarter. Parallel Advisors LLC now owns 922 shares of the construction company’s stock valued at $29,000 after acquiring an additional 288 shares during the last quarter. Quadrant Capital Group LLC grew its position in KB Home by 130.1% in the third quarter. Quadrant Capital Group LLC now owns 1,254 shares of the construction company’s stock valued at $33,000 after acquiring an additional 709 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of KB Home by 111.9% during the fourth quarter. CWM LLC now owns 1,153 shares of the construction company’s stock worth $37,000 after purchasing an additional 609 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey T. Mezger sold 150,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.26, for a total value of $6,789,000.00. Following the transaction, the chief executive officer now directly owns 1,472,577 shares in the company, valued at approximately $66,648,835.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.44% of the stock is owned by company insiders.

KB Home Stock Down 0.9 %

Shares of KBH stock opened at $51.54 on Friday. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 5.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.61. KB Home has a 52 week low of $25.31 and a 52 week high of $52.20. The firm has a 50 day moving average of $45.33 and a 200-day moving average of $39.03.

KB Home (NYSE:KBH – Get Rating) last announced its quarterly earnings data on Wednesday, June 21st. The construction company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.33 by $0.61. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.43 billion. KB Home had a net margin of 11.73% and a return on equity of 22.86%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.32 EPS. Analysts anticipate that KB Home will post 5.26 earnings per share for the current year.

KB Home declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 22nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 15.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, May 3rd. KB Home’s dividend payout ratio is currently 6.59%.

Analyst Ratings Changes

Several analysts have recently weighed in on KBH shares. JPMorgan Chase & Co. upgraded KB Home from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $32.50 to $42.50 in a report on Friday, March 24th. Wolfe Research boosted their price target on KB Home from $29.00 to $43.00 in a report on Thursday. StockNews.com started coverage on KB Home in a report on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group boosted their price target on KB Home from $42.00 to $51.00 in a report on Thursday. Finally, UBS Group boosted their price target on KB Home from $48.00 to $65.00 in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.04.

KB Home Company Profile

(Get Rating)

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.

Institutional Ownership by Quarter for KB Home (NYSE:KBH)

Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.