Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of KB Home (NYSE:KBH) by 181.2% in the 4th quarter, HoldingsChannel reports. The fund owned 12,281 shares of the construction company’s stock after purchasing an additional 7,914 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KB Home were worth $235,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in KBH. Fisher Asset Management LLC lifted its holdings in shares of KB Home by 0.6% during the 4th quarter. Fisher Asset Management LLC now owns 3,321,909 shares of the construction company’s stock valued at $63,448,000 after purchasing an additional 18,369 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new stake in KB Home in the 4th quarter valued at approximately $19,051,000. Bank of Montreal Can raised its position in KB Home by 11.5% in the 4th quarter. Bank of Montreal Can now owns 192,401 shares of the construction company’s stock valued at $3,675,000 after buying an additional 19,780 shares during the last quarter. Bowling Portfolio Management LLC raised its position in KB Home by 7.4% in the 4th quarter. Bowling Portfolio Management LLC now owns 80,472 shares of the construction company’s stock valued at $1,537,000 after buying an additional 5,538 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in KB Home by 2,537.0% in the 4th quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock valued at $27,000 after buying an additional 1,370 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
KBH has been the topic of a number of recent research reports. Evercore ISI raised KB Home from an “in-line” rating to an “outperform” rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. Barclays dropped their target price on KB Home from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 15th. Bank of America lowered KB Home from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Thursday, November 15th. Wedbush dropped their target price on KB Home from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, January 10th. Finally, Credit Suisse Group dropped their target price on KB Home from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, November 15th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. KB Home currently has an average rating of “Hold” and an average price target of $26.13.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, January 9th. The construction company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. KB Home had a return on equity of 14.31% and a net margin of 3.75%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, analysts anticipate that KB Home will post 2.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Thursday, February 7th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, February 6th. KB Home’s dividend payout ratio (DPR) is 35.46%.
About KB Home
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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