Readystate Asset Management LP Makes New $2.25 Million Investment in KB Home $KBH

Readystate Asset Management LP acquired a new position in shares of KB Home (NYSE:KBH) in the 1st quarter, HoldingsChannel reports. The firm acquired 43,478 shares of the construction company’s stock, valued at approximately $2,250,000.

A number of other institutional investors also recently modified their holdings of KBH. Royal Bank of Canada grew its position in KB Home by 4.6% during the 1st quarter. Royal Bank of Canada now owns 64,708 shares of the construction company’s stock worth $3,350,000 after acquiring an additional 2,821 shares during the last quarter. Empowered Funds LLC increased its holdings in KB Home by 19.0% during the 1st quarter. Empowered Funds LLC now owns 36,104 shares of the construction company’s stock valued at $1,868,000 after purchasing an additional 5,776 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in KB Home in the 1st quarter valued at $524,000. SummitTX Capital L.P. bought a new position in KB Home in the 1st quarter valued at $1,771,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in KB Home in the first quarter worth $627,000. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

Shares of NYSE:KBH opened at $57.77 on Wednesday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 9.55 and a beta of 1.34. The company has a 50 day moving average of $54.81 and a 200-day moving average of $55.72. KB Home has a one year low of $44.03 and a one year high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. Equities research analysts anticipate that KB Home will post 3.3 earnings per share for the current year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. KB Home’s dividend payout ratio is 34.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KBH. UBS Group increased their target price on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 13th. Wells Fargo & Company increased their price objective on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Truist Financial raised their price objective on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus target price of $60.17.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.