Clearline Capital LP Buys New Holdings in KB Home $KBH

Clearline Capital LP bought a new stake in KB Home (NYSE:KBH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,328 shares of the construction company’s stock, valued at approximately $865,000.

Several other hedge funds have also bought and sold shares of the company. Xponance Inc. lifted its stake in KB Home by 1.6% in the 3rd quarter. Xponance Inc. now owns 10,198 shares of the construction company’s stock valued at $649,000 after purchasing an additional 163 shares during the last quarter. GHE LLC lifted its stake in KB Home by 0.7% in the 3rd quarter. GHE LLC now owns 30,983 shares of the construction company’s stock valued at $1,972,000 after purchasing an additional 212 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in KB Home by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after purchasing an additional 240 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after purchasing an additional 250 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its stake in KB Home by 6.3% in the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after purchasing an additional 262 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KBH has been the subject of several recent analyst reports. UBS Group cut their target price on shares of KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Royal Bank Of Canada cut their target price on shares of KB Home from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 25th. Barclays cut their target price on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Citigroup reissued a “market outperform” rating on shares of KB Home in a report on Wednesday. Finally, Seaport Research Partners reissued a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.17.

KB Home Trading Down 2.6%

Shares of KBH opened at $52.43 on Thursday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The firm’s 50 day moving average is $51.04 and its 200-day moving average is $56.34. The stock has a market capitalization of $3.28 billion, a PE ratio of 13.31, a P/E/G ratio of 9.51 and a beta of 1.37.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. Equities research analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Announces Dividend

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

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.