Hsbc Holdings PLC Acquires 30,571 Shares of KB Home $KBH

Hsbc Holdings PLC grew its holdings in KB Home (NYSE:KBH) by 953.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,776 shares of the construction company’s stock after purchasing an additional 30,571 shares during the quarter. Hsbc Holdings PLC’s holdings in KB Home were worth $1,920,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Deprince Race & Zollo Inc. increased its holdings in shares of KB Home by 13.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock valued at $59,472,000 after acquiring an additional 122,457 shares during the last quarter. Lincluden Management Ltd. bought a new position in shares of KB Home in the 3rd quarter valued at approximately $1,965,000. Entropy Technologies LP lifted its holdings in KB Home by 59.1% in the 3rd quarter. Entropy Technologies LP now owns 77,962 shares of the construction company’s stock worth $4,962,000 after purchasing an additional 28,948 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in KB Home in the 4th quarter worth approximately $4,232,000. Finally, iSAM Funds UK Ltd bought a new stake in KB Home during the third quarter worth approximately $1,451,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Up 0.6%

Shares of NYSE KBH opened at $62.60 on Tuesday. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The company has a market cap of $3.92 billion, a P/E ratio of 15.89, a P/E/G ratio of 10.52 and a beta of 1.37. The business’s 50 day moving average is $52.03 and its two-hundred day moving average is $56.00.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm’s revenue was down 27.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 earnings per share. Sell-side analysts expect that KB Home will post 3.23 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. KB Home’s dividend payout ratio is 25.38%.

Analysts Set New Price Targets

KBH has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $53.00 price target on shares of KB Home in a report on Wednesday, June 24th. Bank of America decreased their price objective on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. UBS Group raised their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Truist Financial lifted their target price on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Finally, Weiss Ratings lowered shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and an average target price of $60.17.

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.