Navigoe LLC Buys New Holdings in KB Home (NYSE:KBH)

Navigoe LLC purchased a new position in KB Home (NYSE:KBH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,652 shares of the construction company’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in KB Home during the 4th quarter worth approximately $49,638,000. Hennessy Advisors Inc. acquired a new stake in shares of KB Home in the fourth quarter valued at approximately $44,118,000. First Trust Advisors LP grew its position in shares of KB Home by 61.2% during the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company’s stock worth $87,264,000 after acquiring an additional 503,895 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of KB Home in the 4th quarter valued at $12,288,000. Finally, Quantbot Technologies LP increased its holdings in shares of KB Home by 4,083.5% in the 4th quarter. Quantbot Technologies LP now owns 146,422 shares of the construction company’s stock valued at $9,623,000 after acquiring an additional 142,922 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KBH. Wedbush reissued a “neutral” rating and set a $75.00 price objective on shares of KB Home in a research report on Tuesday, March 25th. Royal Bank of Canada lowered their price target on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Tuesday, March 25th. UBS Group reduced their price objective on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Evercore ISI lifted their target price on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.04.

KB Home Price Performance

Shares of NYSE KBH opened at $53.24 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. KB Home has a one year low of $48.90 and a one year high of $89.70. The firm has a market capitalization of $3.82 billion, a P/E ratio of 6.29, a PEG ratio of 0.90 and a beta of 1.65. The company’s fifty day moving average is $57.51 and its two-hundred day moving average is $67.40.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm posted $1.76 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 8th. KB Home’s payout ratio is currently 12.20%.

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.