Rafferty Asset Management LLC Has $6.61 Million Stake in KB Home $KBH

Rafferty Asset Management LLC raised its stake in KB Home (NYSE:KBH) by 74.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,883 shares of the construction company’s stock after acquiring an additional 44,417 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.16% of KB Home worth $6,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in KB Home by 204.8% in the third quarter. SG Americas Securities LLC now owns 69,078 shares of the construction company’s stock valued at $4,396,000 after buying an additional 46,415 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of KB Home in the 3rd quarter valued at $1,551,000. Deprince Race & Zollo Inc. acquired a new stake in shares of KB Home during the 3rd quarter valued at $59,301,000. Strs Ohio boosted its holdings in shares of KB Home by 1,788.1% during the 3rd quarter. Strs Ohio now owns 79,300 shares of the construction company’s stock valued at $5,047,000 after acquiring an additional 75,100 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in KB Home during the 2nd quarter worth $240,000. 96.09% of the stock is owned by institutional investors.

KB Home Price Performance

Shares of KBH opened at $61.18 on Tuesday. The business has a 50-day moving average of $60.63 and a 200-day moving average of $62.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.77 and a quick ratio of 0.53. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 8.30 and a beta of 1.47. KB Home has a 1 year low of $48.90 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last announced its earnings results on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. KB Home had a return on equity of 11.40% and a net margin of 6.88%.The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The firm’s revenue was down 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home’s dividend payout ratio is 20.37%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company dropped their target price on KB Home from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Barclays lowered their price objective on KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd. Raymond James Financial lowered shares of KB Home from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $66.00 target price on shares of KB Home in a report on Tuesday, January 13th. Finally, Bank of America decreased their price target on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.73.

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.