KB Home (KBH) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. raised its holdings in shares of KB Home (NYSE:KBH) by 325.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,100 shares of the construction company’s stock after acquiring an additional 124,800 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.19% of KB Home worth $5,210,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Teachers Advisors LLC grew its position in KB Home by 1.1% during the fourth quarter. Teachers Advisors LLC now owns 156,448 shares of the construction company’s stock valued at $4,999,000 after acquiring an additional 1,676 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of KB Home during the fourth quarter valued at approximately $14,937,000. Guggenheim Capital LLC boosted its stake in shares of KB Home by 98.1% during the fourth quarter. Guggenheim Capital LLC now owns 445,668 shares of the construction company’s stock valued at $14,241,000 after purchasing an additional 220,673 shares during the period. Dorsey Wright & Associates boosted its stake in shares of KB Home by 50.7% during the fourth quarter. Dorsey Wright & Associates now owns 267,146 shares of the construction company’s stock valued at $8,535,000 after purchasing an additional 89,886 shares during the period. Finally, Caxton Associates LP purchased a new stake in shares of KB Home during the fourth quarter valued at approximately $765,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
Shares of KB Home stock opened at $29.74 on Thursday. KB Home has a 52 week low of $18.73 and a 52 week high of $38.80. The company has a market capitalization of $2,487.47, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.73 and a beta of 1.54. The company has a quick ratio of 1.22, a current ratio of 5.36 and a debt-to-equity ratio of 1.21.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Wednesday, February 7th. KB Home’s payout ratio is 5.46%.
A number of analysts have recently weighed in on KBH shares. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price objective (up previously from $25.50) on shares of KB Home in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 price objective on shares of KB Home in a research note on Friday, December 22nd. Wedbush increased their price objective on KB Home from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 29th. Finally, ValuEngine raised KB Home from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. KB Home presently has a consensus rating of “Hold” and an average price target of $29.13.
In other KB Home news, SVP Thomas F. Norton sold 47,179 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the completion of the transaction, the senior vice president now owns 103,562 shares of the company’s stock, valued at $3,139,999.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeff Kaminski sold 125,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total value of $4,066,250.00. Following the transaction, the chief financial officer now directly owns 237,775 shares of the company’s stock, valued at approximately $7,734,820.75. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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