Connor Clark & Lunn Investment Management Ltd. Has $1.31 Million Position in KB Home (KBH)

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Connor Clark & Lunn Investment Management Ltd. increased its holdings in KB Home (NYSE:KBH) by 185.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,740 shares of the construction company’s stock after acquiring an additional 35,590 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in KB Home were worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KBH. Itau Unibanco Holding S.A. bought a new stake in KB Home in the 2nd quarter worth about $115,000. Toth Financial Advisory Corp bought a new stake in KB Home in the 3rd quarter worth about $239,000. Signition LP bought a new stake in KB Home in the 2nd quarter worth about $247,000. First Hawaiian Bank bought a new stake in KB Home in the 3rd quarter worth about $262,000. Finally, NumerixS Investment Technologies Inc bought a new stake in KB Home in the 2nd quarter worth about $277,000. Institutional investors own 86.42% of the company’s stock.

In other news, SVP William R. Hollinger sold 79,564 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the transaction, the senior vice president now directly owns 234,539 shares of the company’s stock, valued at approximately $5,619,554.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is owned by corporate insiders.

A number of equities research analysts have issued reports on KBH shares. ValuEngine downgraded shares of KB Home from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Royal Bank of Canada set a $23.00 price objective on shares of KB Home and gave the stock a “hold” rating in a research report on Thursday, November 15th. Bank of America downgraded shares of KB Home from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Thursday, November 15th. Wells Fargo & Co reduced their price objective on shares of KB Home from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, November 15th. Finally, Credit Suisse Group downgraded shares of KB Home from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research report on Wednesday, October 17th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.84.

KB Home stock opened at $20.41 on Friday. KB Home has a twelve month low of $16.82 and a twelve month high of $38.80. The company has a market cap of $1.77 billion, a PE ratio of 11.03, a P/E/G ratio of 0.43 and a beta of 1.55.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $0.51 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that KB Home will post 2.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, November 14th. KB Home’s dividend payout ratio is currently 5.41%.

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About KB Home

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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