Holocene Advisors LP Invests $89.90 Million in KB Home (NYSE:KBH)

Holocene Advisors LP bought a new stake in shares of KB Home (NYSE:KBH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,049,119 shares of the construction company’s stock, valued at approximately $89,899,000. Holocene Advisors LP owned about 1.43% of KB Home at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in KB Home in the 1st quarter worth about $1,177,000. Comerica Bank lifted its stake in shares of 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 buying an additional 41,452 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of KB Home during the 1st quarter worth about $1,588,000. Charles Schwab Investment Management Inc. raised its stake in KB Home by 22.1% during 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 bought a new stake in shares of KB Home in the second quarter valued at about $479,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Trading Down 0.1 %

Shares of KBH opened at $82.74 on Monday. The firm’s fifty day simple moving average is $81.24 and its two-hundred day simple moving average is $78.02. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70. The stock has a market capitalization of $6.07 billion, a P/E 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 results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. As a group, research analysts predict that KB Home will post 8.44 EPS for the current fiscal year.

KB Home Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KBH. Bank of America lifted their target price on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wedbush increased their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Barclays upped their price target on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada downgraded 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 research note on Thursday, September 5th. Four research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.50.

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.