Renaissance Technologies LLC Grows Position in KB Home $KBH

Renaissance Technologies LLC raised its stake in KB Home (NYSE:KBH) by 174.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 235,700 shares of the construction company’s stock after acquiring an additional 149,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.38% of KB Home worth $12,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. United Services Automobile Association acquired a new position in KB Home in the 1st quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in KB Home by 5.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock valued at $13,108,000 after purchasing an additional 11,103 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of KB Home by 23.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock worth $134,000 after purchasing an additional 482 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of KB Home by 341.2% during the 2nd quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after purchasing an additional 67,023 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of KB Home during the second quarter worth about $711,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Price Performance

KBH opened at $54.98 on Friday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The business has a 50-day moving average of $55.30 and a two-hundred day moving average of $55.67. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 9.11 and a beta of 1.34.

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 return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. The company’s 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. KB Home’s dividend payout ratio is 34.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KBH shares. Citizens Jmp reissued a “market outperform” rating and set a $77.00 price objective on shares of KB Home in a research note on Wednesday, June 24th. 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. Seaport Research Partners reiterated a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Wells Fargo & Company increased their price target on KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.17.

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.