1492 Capital Management LLC Acquires New Stake in KB Home $KBH

1492 Capital Management LLC acquired a new stake in shares of KB Home (NYSE:KBH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 58,712 shares of the construction company’s stock, valued at approximately $3,038,000.

Several other hedge funds have also added to or reduced their stakes in KBH. United Services Automobile Association bought a new position in shares of KB Home during the first quarter valued at $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in KB Home by 5.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock worth $13,108,000 after buying an additional 11,103 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in KB Home by 23.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock worth $134,000 after buying an additional 482 shares in the last quarter. Marshall Wace LLP raised its position in KB Home by 341.2% in the 2nd quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after buying an additional 67,023 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in KB Home in the 2nd quarter worth about $711,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KBH has been the topic of a number of recent analyst reports. Seaport Research Partners reaffirmed a “sell” rating and set a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Citizens Jmp reissued a “market outperform” rating and set a $77.00 price objective on shares of KB Home in a report on Wednesday. UBS Group increased their price objective on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.17.

KB Home Price Performance

Shares of KB Home stock opened at $62.15 on Friday. The company’s fifty day simple moving average is $51.81 and its 200-day simple moving average is $56.03. The stock has a market capitalization of $3.89 billion, a PE ratio of 15.77, a P/E/G ratio of 10.82 and a beta of 1.37. KB Home has a 1-year low of $44.03 and a 1-year high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The company’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, research analysts anticipate that KB Home will post 3.23 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is presently 25.38%.

KB Home Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.