Renaissance Technologies LLC grew its position in KB Home (NYSE:KBH) by 348.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,821,700 shares of the construction company’s stock after purchasing an additional 1,415,300 shares during the quarter. Renaissance Technologies LLC owned approximately 2.09% of KB Home worth $58,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of KB Home by 83.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,284 shares of the construction company’s stock worth $137,000 after purchasing an additional 1,947 shares during the period. Strs Ohio bought a new position in shares of KB Home in the fourth quarter worth approximately $162,000. Suntrust Banks Inc. bought a new position in shares of KB Home in the fourth quarter worth approximately $208,000. DAVENPORT & Co LLC bought a new position in shares of KB Home in the fourth quarter worth approximately $244,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of KB Home in the fourth quarter worth approximately $249,000. Institutional investors and hedge funds own 95.68% of the company’s stock.
A number of equities analysts have weighed in on KBH shares. ValuEngine lowered shares of KB Home from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 1st. Credit Suisse Group restated a “neutral” rating and set a $38.00 target price (up previously from $31.00) on shares of KB Home in a research report on Monday, January 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. restated an “underweight” rating and set a $27.00 target price (up previously from $25.50) on shares of KB Home in a research report on Tuesday, December 19th. Zacks Investment Research upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research report on Tuesday, January 9th. Finally, Citigroup lowered shares of KB Home from a “neutral” rating to a “sell” rating and set a $27.00 target price for the company. in a research report on Tuesday, January 2nd. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. KB Home has an average rating of “Hold” and a consensus price target of $29.07.
KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, January 10th. The construction company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. KB Home had a net margin of 4.13% and a return on equity of 9.93%. KB Home’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. analysts expect that KB Home will post 2.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Wednesday, February 7th. KB Home’s payout ratio is 5.46%.
In related news, CFO Jeff Kaminski sold 125,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the sale, the chief financial officer now owns 237,775 shares of the company’s stock, valued at $7,734,820.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas F. Norton sold 47,179 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the sale, the senior vice president now directly owns 103,562 shares in the company, valued at approximately $3,139,999.84. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
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KB Home Company Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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