KLP Kapitalforvaltning AS Invests $5.31 Million in KB Home (NYSE:KBH)

KLP Kapitalforvaltning AS purchased a new position in shares of KB Home (NYSE:KBH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 80,800 shares of the construction company’s stock, valued at approximately $5,310,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. boosted its stake in shares of KB Home by 0.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 62,800 shares of the construction company’s stock valued at $4,127,000 after purchasing an additional 500 shares during the period. Virtu Financial LLC boosted its holdings in shares of KB Home by 19.3% in the fourth quarter. Virtu Financial LLC now owns 9,497 shares of the construction company’s stock valued at $624,000 after purchasing an additional 1,537 shares during the period. Quantbot Technologies LP increased its holdings in KB Home by 4,083.5% during the 4th quarter. Quantbot Technologies LP now owns 146,422 shares of the construction company’s stock worth $9,623,000 after purchasing an additional 142,922 shares during the period. Millstone Evans Group LLC bought a new stake in KB Home during the 4th quarter valued at $161,000. Finally, Blueshift Asset Management LLC lifted its holdings in shares of KB Home by 219.4% in the 4th quarter. Blueshift Asset Management LLC now owns 8,356 shares of the construction company’s stock worth $549,000 after buying an additional 5,740 shares during the period. 96.09% of the stock is currently owned by institutional investors.

KB Home Stock Performance

Shares of KBH stock opened at $58.56 on Wednesday. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4.18 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The business has a 50-day simple moving average of $63.99 and a 200-day simple moving average of $72.81.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.07). The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.76 EPS. On average, equities analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. KB Home’s dividend payout ratio (DPR) is currently 11.81%.

Analysts Set New Price Targets

KBH has been the subject of several recent research reports. Evercore ISI lifted their price objective on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Raymond James reissued an “outperform” rating and set a $80.00 price target (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Wedbush reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of KB Home in a research report on Tuesday. Barclays decreased their target price on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada decreased their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.13.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.89% of the company’s stock.

KB Home Company Profile

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.