KB Home (NYSE:KBH) Shares Bought by Summit Financial LLC

Summit Financial LLC raised its holdings in KB Home (NYSE:KBH - Free Report) by 479.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,527 shares of the construction company's stock after acquiring an additional 15,332 shares during the quarter. Summit Financial LLC's holdings in KB Home were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in KBH. Jacobs Levy Equity Management Inc. grew its holdings in shares of KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company's stock worth $63,692,000 after acquiring an additional 18,981 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock valued at $61,250,000 after purchasing an additional 3,993 shares during the period. Wedge Capital Management L L P NC increased its stake in KB Home by 2,728.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company's stock worth $45,567,000 after purchasing an additional 620,144 shares in the last quarter. Norges Bank acquired a new stake in KB Home during the 4th quarter worth about $36,761,000. Finally, Principal Financial Group Inc. lifted its stake in KB Home by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company's stock valued at $19,993,000 after buying an additional 3,983 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Zelman & Associates restated an "underperform" rating and issued a $69.00 target price on shares of KB Home in a report on Monday, May 13th. Evercore ISI boosted their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods increased their target price 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. Royal Bank of Canada boosted their price target on shares of KB Home from $69.00 to $70.00 and gave the company a "sector perform" rating in a report on Thursday, June 20th. Finally, Wedbush increased their price objective on KB Home from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, KB Home currently has an average rating of "Hold" and an average price target of $71.88.

KB Home Stock Performance

Shares of NYSE KBH traded up $0.29 during mid-day trading on Monday, reaching $83.71. 1,009,500 shares of the company traded hands, compared to its average volume of 1,272,328. The company's fifty day moving average is $77.65 and its two-hundred day moving average is $71.12. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $88.31. The stock has a market cap of $6.30 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80.

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, beating analysts' consensus estimates of $1.78 by $0.37. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. Research analysts forecast that KB Home will post 8.38 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, August 8th. KB Home's dividend payout ratio (DPR) is 13.23%.

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.