Clear Harbor Asset Management LLC Invests $935,000 in KB Home $KBH

Clear Harbor Asset Management LLC bought a new stake in shares of KB Home (NYSE:KBH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,580 shares of the construction company’s stock, valued at approximately $935,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KBH. Freestone Grove Partners LP purchased a new position in KB Home during the 3rd quarter valued at about $111,050,000. Norges Bank purchased a new position in KB Home during the 4th quarter valued at about $48,418,000. Bank of America Corp DE boosted its holdings in KB Home by 36.4% during the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after acquiring an additional 275,965 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in KB Home by 48,100.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 158,097 shares of the construction company’s stock valued at $8,918,000 after acquiring an additional 157,769 shares during the period. Finally, UBS Group AG boosted its holdings in KB Home by 22.8% during the 3rd quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock valued at $51,875,000 after acquiring an additional 151,202 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Price Performance

KBH stock opened at $51.26 on Tuesday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 13.01, a P/E/G ratio of 8.63 and a beta of 1.37. The business’s 50-day moving average is $50.77 and its two-hundred day moving average is $57.04. KB Home has a 1 year low of $44.03 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $1.49 EPS. The business’s quarterly revenue was down 22.6% on a year-over-year basis. On average, analysts expect that KB Home will post 3.1 EPS for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is 25.38%.

Analysts Set New Price Targets

KBH has been the subject of a number of research analyst reports. Barclays lowered their target price on KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Royal Bank Of Canada lowered their target price on KB Home from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Wednesday, March 25th. Wells Fargo & Company lowered their target price on KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, March 25th. Truist Financial lowered their target price on KB Home from $54.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, Bank of America lowered their target price on KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.17.

KB Home Company 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.