Harbor Capital Advisors Inc. Takes $761,000 Position in KB Home (NYSE:KBH)

Harbor Capital Advisors Inc. bought a new stake in KB Home (NYSE:KBH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,724 shares of the construction company’s stock, valued at approximately $761,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KBH. FMR LLC grew its position in shares of KB Home by 24.7% in the first quarter. FMR LLC now owns 6,188,991 shares of the construction company’s stock valued at $248,674,000 after purchasing an additional 1,225,187 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Norges Bank acquired a new position in shares of KB Home in the fourth quarter valued at approximately $29,141,000. AQR Capital Management LLC grew its position in KB Home by 90.9% during the fourth quarter. AQR Capital Management LLC now owns 1,436,592 shares of the construction company’s stock worth $45,655,000 after buying an additional 684,199 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in KB Home by 1,871.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 615,588 shares of the construction company’s stock worth $24,734,000 after buying an additional 584,363 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

KB Home Stock Performance

Shares of KBH opened at $48.28 on Tuesday. KB Home has a 52 week low of $25.31 and a 52 week high of $55.37. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 1.07 and a beta of 1.68. The stock has a fifty day moving average of $51.70 and a 200-day moving average of $46.44.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Wednesday, June 21st. The construction company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.61. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.43 billion. KB Home had a return on equity of 20.85% and a net margin of 10.98%. KB Home’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.32 EPS. As a group, equities analysts forecast that KB Home will post 6.29 EPS for the current year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a dividend of $0.20 per share. This is an increase from KB Home’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, August 2nd. KB Home’s dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KBH shares. Royal Bank of Canada increased their price target on KB Home from $37.00 to $52.00 in a research report on Thursday, June 22nd. Bank of America increased their price target on KB Home from $52.00 to $53.00 in a research report on Thursday, June 22nd. UBS Group increased their price target on KB Home from $48.00 to $65.00 in a research report on Thursday, June 22nd. Seaport Res Ptn reissued a “neutral” rating on shares of KB Home in a research report on Wednesday, June 14th. Finally, Wolfe Research raised their target price on KB Home from $29.00 to $43.00 in a report on Thursday, June 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.27.

Insiders Place Their Bets

In other KB Home news, EVP Brian J. Woram sold 40,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.80, for a total transaction of $2,112,000.00. Following the completion of the sale, the executive vice president now directly owns 158,654 shares in the company, valued at approximately $8,376,931.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KB Home news, EVP Brian J. Woram sold 40,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.80, for a total transaction of $2,112,000.00. Following the completion of the sale, the executive vice president now directly owns 158,654 shares in the company, valued at approximately $8,376,931.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Melissa Lora sold 9,649 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $53.19, for a total value of $513,230.31. Following the sale, the director now owns 180,619 shares of the company’s stock, valued at $9,607,124.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,574 shares of company stock worth $8,399,080. Company insiders own 4.44% of the company’s stock.

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.