ClearAlpha Technologies LP Invests $446,000 in KB Home (NYSE:KBH)

ClearAlpha Technologies LP bought a new stake in shares of KB Home (NYSE:KBH) in the third quarter, Holdings Channel.com reports. The institutional investor bought 5,207 shares of the construction company’s stock, valued at approximately $446,000.

Several other institutional investors also recently bought and sold shares of KBH. Price T Rowe Associates Inc. MD lifted its holdings in shares of KB Home by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,439 shares of the construction company’s stock valued at $3,363,000 after purchasing an additional 1,780 shares during the last quarter. Janus Henderson Group PLC increased its position in KB Home by 6.1% during the 1st quarter. Janus Henderson Group PLC now owns 65,093 shares of the construction company’s stock valued at $4,611,000 after buying an additional 3,735 shares in the last quarter. Tidal Investments LLC purchased a new stake in KB Home in the first quarter valued at about $1,177,000. Comerica Bank boosted its holdings in KB Home by 123.0% in the first quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock worth $5,327,000 after acquiring an additional 41,452 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of KB Home during the first quarter worth about $1,588,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KBH shares. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Barclays lifted their target price on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Wedbush lifted their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Bank of America increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KB Home currently has an average rating of “Hold” and a consensus price target of $77.50.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.44% of the stock is owned by corporate insiders.

KB Home Stock Down 0.1 %

Shares of NYSE KBH opened at $82.74 on Monday. KB Home has a 52-week low of $51.53 and a 52-week high of $89.70. The company’s 50-day simple moving average is $81.24 and its 200-day simple moving average is $78.02. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts anticipate that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is 12.82%.

About KB Home

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.