Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 12,108 KB Home $KBH

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in KB Home (NYSE:KBH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,108 shares of the construction company’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KBH. Renaissance Technologies LLC increased its holdings in KB Home by 174.4% during the 1st quarter. Renaissance Technologies LLC now owns 235,700 shares of the construction company’s stock worth $12,197,000 after purchasing an additional 149,800 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of KB Home by 54.9% in the first quarter. Sei Investments Co. now owns 169,863 shares of the construction company’s stock valued at $8,790,000 after purchasing an additional 60,230 shares in the last quarter. State of Wyoming boosted its position in shares of KB Home by 841.4% during the first quarter. State of Wyoming now owns 2,090 shares of the construction company’s stock valued at $108,000 after buying an additional 1,868 shares during the last quarter. Bessemer Group Inc. grew its holdings in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in KB Home by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,569 shares of the construction company’s stock worth $388,000 after buying an additional 772 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Stock Up 0.0%

NYSE KBH opened at $54.98 on Monday. The company has a market cap of $3.37 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 9.11 and a beta of 1.35. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The firm’s 50-day simple moving average is $55.30 and its two-hundred day simple moving average is $55.63.

KB Home (NYSE:KBH) last posted its earnings results 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). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business earned $1.50 EPS. KB Home’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, equities research analysts anticipate that KB Home will post 3.3 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 6th. KB Home’s dividend payout ratio is presently 34.84%.

Analyst Ratings Changes

Several brokerages have weighed in on KBH. Wells Fargo & Company raised their price objective on KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. UBS Group increased their target price on shares of KB Home from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Citizens Jmp restated a “market outperform” rating and set a $77.00 price target on shares of KB Home in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Barclays upped their target price on KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.17.

KB Home 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.