Caisse Des Depots ET Consignations Takes Position in KB Home (NYSE:KBH)

Caisse Des Depots ET Consignations bought a new position in KB Home (NYSE:KBH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,791 shares of the construction company’s stock, valued at approximately $2,484,000. Caisse Des Depots ET Consignations owned approximately 0.05% of KB Home at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. Holocene Advisors LP acquired a new position in KB Home during the 3rd quarter valued at about $89,899,000. Hennessy Advisors Inc. purchased a new position in shares of KB Home in the fourth quarter worth $44,118,000. Raymond James Financial Inc. acquired a new stake in shares of KB Home during the fourth quarter worth about $12,288,000. Finally, Charles Schwab Investment Management Inc. grew its position in KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after purchasing an additional 164,010 shares during the period. 96.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on KBH. UBS Group lowered their price objective on KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods decreased their target price on KB Home from $76.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday. Wedbush reiterated a “neutral” rating and set a $75.00 price target on shares of KB Home in a report on Tuesday. Finally, Royal Bank of Canada dropped their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.21.

KB Home Trading Up 0.3 %

Shares of KBH stock opened at $59.29 on Friday. The business’s 50 day moving average is $63.63 and its two-hundred day moving average is $72.62. KB Home has a twelve month low of $56.41 and a twelve month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $4.24 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share 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 analyst estimates of $1.51 billion. During the same period last year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.69%. KB Home’s payout ratio is currently 12.20%.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.89% of the company’s stock.

KB Home Company Profile

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.