KB Home $KBH Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of KB Home (NYSE:KBH) by 174.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 235,700 shares of the construction company’s stock after purchasing an additional 149,800 shares during the quarter. Renaissance Technologies LLC’s holdings in KB Home were worth $12,197,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. raised its holdings in KB Home by 54.9% in the first quarter. Sei Investments Co. now owns 169,863 shares of the construction company’s stock valued at $8,790,000 after buying an additional 60,230 shares during the period. State of Wyoming grew its stake in KB Home by 841.4% during the first quarter. State of Wyoming now owns 2,090 shares of the construction company’s stock worth $108,000 after buying an additional 1,868 shares during the period. Bessemer Group Inc. grew its stake in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after buying an additional 220 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of KB Home by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,569 shares of the construction company’s stock worth $388,000 after acquiring an additional 772 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of KB Home by 1.2% in the first quarter. Principal Financial Group Inc. now owns 141,904 shares of the construction company’s stock worth $7,344,000 after acquiring an additional 1,681 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Trading Down 2.4%

NYSE KBH opened at $54.98 on Friday. The company’s fifty day simple moving average is $55.30 and its 200-day simple moving average is $55.67. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The stock has a market cap of $3.37 billion, a P/E ratio of 19.16, a PEG ratio of 9.11 and a beta of 1.34.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. KB Home’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 earnings per share. On average, research analysts expect that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home’s dividend payout ratio is presently 34.84%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 price target on shares of KB Home in a report on Wednesday, June 24th. Barclays raised their price objective on KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Finally, Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, KB Home currently has an average rating of “Hold” and a consensus target price of $60.17.

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.