Engineers Gate Manager LP Grows Stock Position in KB Home $KBH

Engineers Gate Manager LP lifted its stake in KB Home (NYSE:KBH) by 519.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,739 shares of the construction company’s stock after purchasing an additional 296,615 shares during the period. Engineers Gate Manager LP owned about 0.56% of KB Home worth $19,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Horizon Corp raised its stake in KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after buying an additional 322 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after buying an additional 250 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in KB Home in the third quarter valued at $36,000. Jones Financial Companies Lllp raised its stake in KB Home by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after buying an additional 240 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in KB Home in the fourth quarter valued at $46,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Down 2.6%

NYSE:KBH opened at $52.43 on Thursday. The stock’s 50 day moving average price is $51.04 and its 200 day moving average price is $56.34. The company has a market capitalization of $3.28 billion, a PE ratio of 13.31, a P/E/G ratio of 9.51 and a beta of 1.37. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, sell-side analysts anticipate that KB Home will post 3.1 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 annualized dividend and a yield of 1.9%. KB Home’s dividend payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KBH. Barclays cut their price target on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. The Goldman Sachs Group reduced their target price on KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. UBS Group dropped their price target on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Citizens Jmp started coverage on KB Home in a research note on Tuesday, March 24th. They set an “outperform” rating and a $77.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.17.

KB Home Company 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.