Panagora Asset Management Inc. Acquires 10,893 Shares of KB Home (NYSE:KBH)

Panagora Asset Management Inc. boosted its position in shares of KB Home (NYSE:KBH - Free Report) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,507 shares of the construction company's stock after purchasing an additional 10,893 shares during the period. Panagora Asset Management Inc. owned approximately 0.23% of KB Home worth $12,247,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KBH. Manchester Capital Management LLC grew its holdings in KB Home by 433.0% during the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company's stock worth $30,000 after acquiring an additional 394 shares in the last quarter. GAMMA Investing LLC acquired a new position in KB Home during the 4th quarter worth $47,000. Fidelis Capital Partners LLC acquired a new position in KB Home during the 1st quarter worth $60,000. Plato Investment Management Ltd grew its holdings in KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company's stock worth $77,000 after acquiring an additional 452 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in KB Home during the 1st quarter worth $120,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of KB Home from $69.00 to $70.00 and gave the stock a "sector perform" rating in a report on Thursday, June 20th. Wedbush raised their price target on shares of KB Home from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, June 20th. Zelman & Associates restated an "underperform" rating and issued a $69.00 price target on shares of KB Home in a research report on Monday, May 13th. Keefe, Bruyette & Woods raised their price target on shares of KB Home from $74.00 to $77.00 and gave the stock a "market perform" rating in a research report on Thursday, June 20th. Finally, Evercore ISI raised their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $71.88.

KB Home Trading Up 0.3 %

NYSE:KBH traded up $0.29 during mid-day trading on Friday, hitting $83.71. The stock had a trading volume of 1,009,556 shares, compared to its average volume of 1,272,328. KB Home has a 52 week low of $42.11 and a 52 week high of $88.31. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.84 and a beta of 1.80. The company has a 50 day simple moving average of $77.65 and a 200-day simple moving average of $70.98.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.37. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. As a group, equities research analysts anticipate that KB Home will post 8.38 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. KB Home's dividend payout ratio is currently 13.23%.

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.