KB Home (NYSE:KBH) Position Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in KB Home (NYSE:KBH) by 40.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 75,600 shares of the construction company’s stock after selling 50,800 shares during the period. Renaissance Technologies LLC owned 0.10% of KB Home worth $5,306,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KBH. US Bancorp DE increased its holdings in KB Home by 1.6% in the first quarter. US Bancorp DE now owns 12,317 shares of the construction company’s stock valued at $873,000 after buying an additional 191 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of KB Home by 2.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,029 shares of the construction company’s stock valued at $782,000 after acquiring an additional 231 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of KB Home by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the construction company’s stock valued at $201,000 after acquiring an additional 293 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in KB Home by 4.8% during the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the construction company’s stock worth $463,000 after purchasing an additional 300 shares during the last quarter. Finally, Caprock Group LLC boosted its holdings in KB Home by 7.0% in the second quarter. Caprock Group LLC now owns 5,479 shares of the construction company’s stock worth $385,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KBH shares. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a report on Thursday, September 5th. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upped their target price on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Barclays raised their price target on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus price target of $77.27.

KB Home Trading Up 1.9 %

KB Home stock opened at $84.31 on Friday. KB Home has a 52 week low of $42.11 and a 52 week high of $89.70. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.89 and a beta of 1.81. The company’s 50-day moving average price is $82.37 and its two-hundred day moving average price is $73.43.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. KB Home’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. Research analysts expect that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.19%. KB Home’s dividend payout ratio is currently 13.23%.

About KB Home

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.