Havemeyer Place LP Makes New $1.88 Million Investment in KB Home $KBH

Havemeyer Place LP purchased a new position in KB Home (NYSE:KBH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,255 shares of the construction company’s stock, valued at approximately $1,876,000. Havemeyer Place LP owned approximately 0.05% of KB Home at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Horizon Corp lifted its holdings in shares of KB Home by 178.9% in the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of KB Home in the 3rd quarter worth approximately $36,000. Jones Financial Companies Lllp lifted its holdings in shares of KB Home by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock worth $49,000 after acquiring an additional 240 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of KB Home in the 4th quarter worth approximately $46,000. Finally, Rothschild Investment LLC lifted its holdings in shares of KB Home by 391.0% in the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after acquiring an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.1%

NYSE:KBH opened at $52.13 on Friday. The company has a fifty day moving average of $50.72 and a 200 day moving average of $56.82. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The firm has a market capitalization of $3.27 billion, a P/E ratio of 13.23, a P/E/G ratio of 9.19 and a beta of 1.37.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $1.49 EPS. The firm’s revenue was down 22.6% compared to the same quarter last year. As a group, analysts anticipate that KB Home will post 3.1 EPS for the current year.

KB Home Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KBH shares. Bank of America lowered their price objective on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Wells Fargo & Company lowered their price objective on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, March 25th. Truist Financial lowered their price objective on shares of KB Home from $54.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 4th. UBS Group lowered their price objective on shares of KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.17.

KB Home Profile

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.