Holocene Advisors LP Buys New Holdings in KB Home (NYSE:KBH)

Holocene Advisors LP purchased a new stake in shares of KB Home (NYSE:KBH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,049,119 shares of the construction company’s stock, valued at approximately $89,899,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of KB Home in the 1st quarter worth approximately $1,177,000. Comerica Bank increased its position in shares of KB Home by 123.0% during the first quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock worth $5,327,000 after purchasing an additional 41,452 shares in the last quarter. Cetera Investment Advisers acquired a new position in KB Home during the 1st quarter valued at about $1,588,000. Charles Schwab Investment Management Inc. raised its position in shares of KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after purchasing an additional 164,010 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in shares of KB Home in the second quarter worth $479,000. 96.09% of the stock is currently owned by institutional investors.

KB Home Stock Down 0.1 %

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

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 24th. The construction company reported $2.04 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $1.80 earnings per share. KB Home’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, research analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on KBH. Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wedbush upped their target price on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.44% of the stock is currently owned by insiders.

KB Home 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.