Clearline Capital LP Acquires New Position in KB Home $KBH

Clearline Capital LP acquired a new stake in KB Home (NYSE:KBH) during the fourth quarter, Holdings Channel.com reports. The fund acquired 15,328 shares of the construction company’s stock, valued at approximately $865,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aristeia Capital L.L.C. grew its stake in shares of KB Home by 195.6% during the fourth quarter. Aristeia Capital L.L.C. now owns 13,295 shares of the construction company’s stock worth $750,000 after buying an additional 8,797 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of KB Home by 2.6% during the fourth quarter. AQR Capital Management LLC now owns 773,782 shares of the construction company’s stock worth $43,649,000 after purchasing an additional 19,415 shares during the period. Cetera Investment Advisers lifted its holdings in KB Home by 6.6% in the fourth quarter. Cetera Investment Advisers now owns 30,613 shares of the construction company’s stock valued at $1,727,000 after buying an additional 1,886 shares during the period. Jain Global LLC acquired a new position in KB Home in the fourth quarter valued at $832,000. Finally, Rexford Capital Inc. lifted its holdings in KB Home by 13.5% in the fourth quarter. Rexford Capital Inc. now owns 5,688 shares of the construction company’s stock valued at $321,000 after buying an additional 675 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

NYSE KBH opened at $52.43 on Thursday. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71. 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. The company’s 50 day simple moving average is $51.04 and its two-hundred day simple moving average is $56.34.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share (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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. On average, research analysts anticipate that KB Home will post 3.1 EPS for the current year.

KB Home Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citizens Jmp assumed coverage on shares of KB Home in a report on Tuesday, March 24th. They set an “outperform” rating and a $77.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a research report on Wednesday, March 25th. Barclays reduced their price objective on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. The Goldman Sachs Group dropped their target price on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Finally, UBS Group dropped their target price on shares of KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.