KB Home (KBH) Stake Raised by Renaissance Technologies LLC
Renaissance Technologies LLC grew its position in KB Home (NYSE:KBH) by 348.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,821,700 shares of the construction company’s stock after acquiring an additional 1,415,300 shares during the quarter. Renaissance Technologies LLC’s holdings in KB Home were worth $58,203,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KBH. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of KB Home by 83.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,284 shares of the construction company’s stock valued at $137,000 after acquiring an additional 1,947 shares during the period. Strs Ohio purchased a new stake in shares of KB Home in the fourth quarter valued at $162,000. Suntrust Banks Inc. purchased a new stake in shares of KB Home in the fourth quarter valued at $208,000. Magnetar Financial LLC purchased a new stake in shares of KB Home in the third quarter valued at $244,000. Finally, DAVENPORT & Co LLC purchased a new stake in shares of KB Home in the fourth quarter valued at $244,000. 95.68% of the stock is currently owned by institutional investors and hedge funds.
KB Home (NYSE:KBH) opened at $29.93 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. KB Home has a 1-year low of $18.32 and a 1-year high of $38.80. The stock has a market cap of $2,570.76, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.75 and a beta of 1.54.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.33%. The ex-dividend date was Wednesday, February 7th. KB Home’s payout ratio is 5.46%.
In other KB Home news, SVP Thomas F. Norton sold 47,179 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the transaction, the senior vice president now directly owns 103,562 shares in the company, valued at approximately $3,139,999.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the transaction, the chief financial officer now owns 237,775 shares in the company, valued at $7,734,820.75. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
Several research firms recently commented on KBH. ValuEngine raised shares of KB Home from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Buckingham Research raised shares of KB Home from an “underperform” rating to a “neutral” rating and set a $34.00 price target on the stock in a research note on Friday, January 26th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a “neutral” rating and issued a $38.00 price target (up previously from $31.00) on shares of KB Home in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Mizuho set a $35.00 price target on shares of KB Home and gave the stock a “hold” rating in a research note on Thursday, January 18th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.07.
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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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