Connor Clark & Lunn Investment Management Ltd. raised its position in shares of KB Home (NYSE:KBH) by 185.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,740 shares of the construction company’s stock after purchasing an additional 35,590 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of KB Home worth $1,309,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of KB Home by 0.8% during the third quarter. BlackRock Inc. now owns 10,413,684 shares of the construction company’s stock worth $248,990,000 after buying an additional 79,827 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of KB Home by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,847,786 shares of the construction company’s stock worth $68,090,000 after buying an additional 63,964 shares during the last quarter. Northern Trust Corp grew its stake in shares of KB Home by 5.7% during the second quarter. Northern Trust Corp now owns 2,047,845 shares of the construction company’s stock worth $55,784,000 after buying an additional 109,984 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of KB Home by 283.4% during the third quarter. Prudential Financial Inc. now owns 1,289,413 shares of the construction company’s stock worth $30,829,000 after buying an additional 953,079 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of KB Home by 48.8% during the second quarter. Renaissance Technologies LLC now owns 1,169,100 shares of the construction company’s stock worth $31,846,000 after buying an additional 383,200 shares during the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
A number of analysts have weighed in on KBH shares. ValuEngine raised shares of KB Home from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Barclays set a $27.00 target price on shares of KB Home and gave the stock a “hold” rating in a research note on Friday, September 14th. Wedbush reissued a “neutral” rating and issued a $29.00 price objective (up previously from $25.00) on shares of KB Home in a research note on Thursday, September 20th. Zacks Investment Research cut shares of KB Home from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, JMP Securities raised shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 26th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.84.
Shares of KB Home stock opened at $20.41 on Friday. KB Home has a twelve month low of $16.82 and a twelve month high of $38.80. The firm has a market capitalization of $1.77 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.43 and a beta of 1.55.
KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.10. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.27 billion. KB Home had a net margin of 3.43% and a return on equity of 13.96%. KB Home’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, analysts forecast that KB Home will post 2.84 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 29th. Investors of record on Thursday, November 15th were issued a $0.025 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $0.10 annualized dividend and a yield of 0.49%. KB Home’s payout ratio is 5.41%.
In related news, SVP William R. Hollinger sold 79,564 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $23.96, for a total value of $1,906,353.44. Following the transaction, the senior vice president now owns 234,539 shares in the company, valued at $5,619,554.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.60% of the stock is owned by insiders.
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KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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