Harel Insurance Investments & Financial Services Ltd. cut its stake in KB Home (NYSE:KBH – Get Rating ) by 77.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the construction company’s stock after selling 8,500 shares during the period. The holdings of Harel Insurance Investments & Financial Services Ltd. in KB Home were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in KB Home by 113.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,003,238 shares of the construction company’s stock valued at $44,875,000 after acquiring an additional 533,400 shares during the period. Artemis Investment Management LLP acquired a new stake in KB Home during the first quarter valued at approximately $8,452,000. Assenagon Asset Management SA raised its stake in KB Home by 293.3% during the 4th quarter. Assenagon Asset Management SA now owns 335,015 shares of the construction company’s stock valued at $14,985,000 after acquiring an additional 249,836 shares during the period. Renaissance Technologies LLC raised its stake in KB Home by 315.0% in the 4th quarter. Renaissance Technologies LLC now owns 324,100 shares of the construction company’s stock valued at $14,497,000 after acquiring an additional 246,000 shares during the period. Finally, Clough Capital Partners LP acquired a new stake in KB Home during the 4th quarter valued at approximately $10,847,000. 89.78% of the shares are currently owned by institutional investors and hedge funds.
KB Home Price Performance
NYSE KBH opened at $32.42 on Monday. The firm’s 50-day moving average is $30.87, and its two-hundred-day moving average is $34.92. KB Home has a 12-month low of $24.78 and a 12-month high of $50.20. The stock has a market cap of $2.83 billion, a P/E ratio of 4.44, a PEG ratio of 0.51 and a beta of 1.62.
KB Home (NYSE:KBH – Get Rating) last posted its earnings results on Wednesday, June 22. The construction company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.35. KB Home had a net margin of 10.69% and a return on equity of 21.92%. In the same quarter last year, the business earned $1.50 EPS. As a group, analysts expect that KB Home will post 10.28 EPS for the current year.
KB Home Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, August 4th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 3rd. This represents a dividend of $0.60 on an annualized basis and a dividend yield of 1.85%. KB Home’s payout ratio is 8.22%.
Analysts set new price targets
Several brokerages have commented on KBH. Wedbush reduced their price objective on shares of KB Home from $73.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, June 23rd. Barclays reduced their price objective on shares of KB Home from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, June 8th. Credit Suisse Group downgraded shares of KB Home from an “outperform” rating to a “neutral” rating and cut their target price for the company from $42.00 to $35.00 in a report on Monday, July 11th. Wells Fargo & Company reduced their target price on shares of KB Home from $40.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, June 17th. Finally, Wolfe Research lowered shares of KB Home from a “market perform” rating to an “underperform” rating and set a $28.00 target price for the company. in a report dated Friday, May 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23, according to MarketBeat.com.
About KB Home
KB Home operates as a home construction company in the United States. It operates in four segments: West Coast, Southwest, Central and Southeast. Builds and sells a variety of homes, including attached and detached single-family homes, townhomes and co-ops primarily to first-time buyers, first movers, second movers and active senior homebuyers.
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