KB Home (NYSE:KBH) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp boosted its position in shares of KB Home (NYSE:KBH - Free Report) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,223 shares of the construction company's stock after purchasing an additional 12,906 shares during the quarter. Texas Permanent School Fund Corp owned about 0.10% of KB Home worth $5,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management lifted its position in shares of KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock worth $74,138,000 after purchasing an additional 572,800 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in KB Home by 2.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company's stock worth $63,692,000 after buying an additional 18,981 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock worth $61,250,000 after buying an additional 3,993 shares during the period. Norges Bank bought a new stake in KB Home during the 4th quarter valued at $36,761,000. Finally, Principal Financial Group Inc. raised its position in shares of KB Home by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company's stock worth $19,993,000 after acquiring an additional 3,983 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Trading Up 4.7 %

Shares of KBH stock traded up $3.90 during mid-day trading on Friday, reaching $86.04. The stock had a trading volume of 888,281 shares, compared to its average volume of 1,255,293. KB Home has a 1-year low of $42.11 and a 1-year high of $88.31. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.80 and a beta of 1.81. The business's fifty day moving average is $80.23 and its 200-day moving average is $72.30.

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

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. KB Home's dividend payout ratio (DPR) is presently 13.23%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wedbush reaffirmed a "neutral" rating and set a $67.00 price objective on shares of KB Home in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Evercore ISI increased their target price 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. Royal Bank of Canada lowered shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Finally, Wells Fargo & Company increased their price objective on KB Home from $70.00 to $80.00 and gave the company an "equal weight" rating in a report on Monday. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, KB Home currently has an average rating of "Hold" and a consensus price target of $73.71.

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.