Cim Investment Management Inc. Lowers Holdings in KB Home (NYSE:KBH)

Cim Investment Management Inc. lowered its holdings in KB Home (NYSE:KBH) by 19.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,705 shares of the construction company’s stock after selling 1,834 shares during the period. Cim Investment Management Inc.’s holdings in KB Home were worth $541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpha DNA Investment Management LLC purchased a new stake in KB Home during the second quarter valued at about $308,000. Aristeia Capital L.L.C. bought a new stake in KB Home during the 2nd quarter valued at $360,000. Evergreen Capital Management LLC boosted its holdings in shares of KB Home by 18.8% during the second quarter. Evergreen Capital Management LLC now owns 3,406 shares of the construction company’s stock worth $239,000 after purchasing an additional 539 shares during the period. EverSource Wealth Advisors LLC raised its position in KB Home by 1,609.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the construction company’s stock valued at $138,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Hancock Whitney Corp lifted its holdings in KB Home by 47.6% in the 2nd quarter. Hancock Whitney Corp now owns 23,943 shares of the construction company’s stock worth $1,680,000 after buying an additional 7,724 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KBH shares. Keefe, Bruyette & Woods boosted their target price on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Bank of America boosted their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their price target on shares of KB Home from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.27.

KB Home Price Performance

Shares of KBH stock opened at $85.90 on Friday. KB Home has a 1 year low of $42.11 and a 1 year high of $89.70. The firm has a fifty day moving average price of $82.46 and a 200-day moving average price of $73.51. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.89 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.66% and a net margin of 9.43%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $1.80 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that KB Home will post 8.38 EPS for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. KB Home’s payout ratio is 13.23%.

KB Home Company 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.