ClearAlpha Technologies LP Acquires New Stake in KB Home (NYSE:KBH)

ClearAlpha Technologies LP bought a new position in KB Home (NYSE:KBH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,207 shares of the construction company’s stock, valued at approximately $446,000.

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

Insider Activity at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home 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 transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

KB Home Price Performance

Shares of KBH stock opened at $82.74 on Monday. The company has a market capitalization of $6.07 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.71 and a beta of 1.81. The company’s 50-day simple moving average is $81.24 and its two-hundred day simple moving average is $78.02. KB Home has a one year low of $51.53 and a one year high of $89.70.

KB Home (NYSE:KBH) last announced 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). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. On average, research analysts expect that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Announces Dividend

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

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.