Havemeyer Place LP Makes New Investment in KB Home $KBH

Havemeyer Place LP acquired a new stake in shares of KB Home (NYSE:KBH) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 33,255 shares of the construction company’s stock, valued at approximately $1,876,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Corp boosted its stake in KB Home by 178.9% during the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after buying an additional 322 shares during the period. Fulcrum Asset Management LLP purchased a new stake in KB Home in the third quarter valued at approximately $36,000. Aventura Private Wealth LLC purchased a new stake in KB Home in the fourth quarter valued at approximately $46,000. Rothschild Investment LLC lifted its holdings in KB Home by 391.0% in the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock valued at $46,000 after acquiring an additional 653 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in KB Home by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after acquiring an additional 240 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of KBH opened at $52.13 on Friday. The stock has a 50-day simple moving average of $50.72 and a 200-day simple moving average of $56.82. The stock has a market capitalization of $3.27 billion, a PE ratio of 13.23, a PEG ratio of 9.19 and a beta of 1.37. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. Analysts predict that KB Home will post 3.1 EPS for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is presently 25.38%.

Analyst Upgrades and Downgrades

Several research firms recently commented on KBH. Wells Fargo & Company reduced their price objective on KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a research note on Wednesday, March 25th. Citizens Jmp assumed coverage on KB Home in a report on Tuesday, March 24th. They issued an “outperform” rating and a $77.00 target price for the company. Seaport Research Partners restated a “sell” rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Wall Street Zen cut KB Home from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Royal Bank Of Canada dropped their target price on KB Home from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.17.

About KB Home

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.