Cibc World Markets Corp Takes Position in KB Home (NYSE:KBH)

Cibc World Markets Corp bought a new stake in shares of KB Home (NYSE:KBH) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 6,084 shares of the construction company’s stock, valued at approximately $400,000.

Several other large investors have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of KB Home during the 4th quarter valued at approximately $979,000. Sequoia Financial Advisors LLC increased its stake in KB Home by 37.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,056 shares of the construction company’s stock worth $661,000 after purchasing an additional 2,737 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in KB Home by 8.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,136 shares of the construction company’s stock worth $1,652,000 after purchasing an additional 1,983 shares during the period. Ruffer LLP purchased a new stake in KB Home in the fourth quarter worth $2,804,000. Finally, Amundi increased its stake in KB Home by 29.6% in the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

Shares of KBH stock opened at $59.61 on Monday. KB Home has a 1-year low of $58.80 and a 1-year high of $89.70. The stock’s 50-day moving average is $64.22 and its 200 day moving average is $73.07. The company has a market cap of $4.26 billion, a P/E ratio of 7.04, a PEG ratio of 0.90 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company earned $1.85 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio is presently 11.81%.

Analyst Ratings Changes

A number of analysts have weighed in on KBH shares. Barclays reduced their target price on KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and reduced their target price for the stock from $70.00 to $67.00 in a research note on Friday, January 10th. Keefe, Bruyette & Woods reduced their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. UBS Group reduced their target price on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group dropped their price target on KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.21.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.89% of the company’s stock.

KB Home Profile

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.