Connor Clark & Lunn Investment Management Ltd. Invests $979,000 in KB Home (NYSE:KBH)

Connor Clark & Lunn Investment Management Ltd. bought a new position in KB Home (NYSE:KBH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,890 shares of the construction company’s stock, valued at approximately $979,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of KB Home by 65.6% in the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Principal Securities Inc. increased its position in shares of KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of KB Home in the 3rd quarter worth about $59,000. Banque Cantonale Vaudoise bought a new stake in shares of KB Home in the 3rd quarter worth about $61,000. Finally, Versant Capital Management Inc increased its position in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KBH shares. Wells Fargo & Company lowered their price objective on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. UBS Group lowered their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Bank of America lowered their price objective on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Raymond James reaffirmed an “outperform” rating and set a $80.00 price objective (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and lowered their price objective for the company from $70.00 to $67.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.21.

KB Home Trading Down 0.5 %

Shares of NYSE:KBH opened at $61.21 on Friday. The company has a 50 day moving average of $64.29 and a 200-day moving average of $73.34. The firm has a market cap of $4.37 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.90 and a beta of 1.89. KB Home has a twelve month low of $59.00 and a twelve month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. As a group, analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio is presently 11.81%.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.