Engineers Gate Manager LP Boosts Stock Position in KB Home $KBH

Engineers Gate Manager LP raised its stake in shares of KB Home (NYSE:KBH) by 519.2% in the 4th quarter, Holdings Channel reports. The fund owned 353,739 shares of the construction company’s stock after acquiring an additional 296,615 shares during the quarter. Engineers Gate Manager LP’s holdings in KB Home were worth $19,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clearline Capital LP purchased a new stake in KB Home during the 4th quarter valued at approximately $865,000. Aristeia Capital L.L.C. increased its position in KB Home by 195.6% during the 4th quarter. Aristeia Capital L.L.C. now owns 13,295 shares of the construction company’s stock worth $750,000 after purchasing an additional 8,797 shares during the period. AQR Capital Management LLC increased its position in KB Home by 2.6% during the 4th quarter. AQR Capital Management LLC now owns 773,782 shares of the construction company’s stock worth $43,649,000 after purchasing an additional 19,415 shares during the period. Cetera Investment Advisers increased its position in KB Home by 6.6% during the 4th quarter. Cetera Investment Advisers now owns 30,613 shares of the construction company’s stock worth $1,727,000 after purchasing an additional 1,886 shares during the period. Finally, Jain Global LLC acquired a new position in KB Home during the 4th quarter worth approximately $832,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Price Performance

KBH opened at $52.43 on Thursday. The stock has a market cap of $3.28 billion, a P/E ratio of 13.31, a P/E/G ratio of 9.51 and a beta of 1.37. The stock’s 50 day simple moving average is $51.04 and its 200 day simple moving average is $56.34. KB Home has a 1-year low of $44.03 and a 1-year high of $68.71.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $1.49 EPS. The company’s revenue was down 22.6% compared to the same quarter last year. Research analysts expect that KB Home will post 3.1 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. KB Home’s dividend payout ratio is presently 25.38%.

Analyst Ratings Changes

KBH has been the topic of several recent analyst reports. Citizens Jmp initiated coverage on KB Home in a research report on Tuesday, March 24th. They set an “outperform” rating and a $77.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of KB Home in a research report on Wednesday. Barclays dropped their target price on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Wells Fargo & Company dropped their target price on KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Wall Street Zen cut KB Home from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.17.

KB Home 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.