EMG Holdings L.P. Acquires Shares of 77,657 KB Home $KBH

EMG Holdings L.P. bought a new position in shares of KB Home (NYSE:KBH) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 77,657 shares of the construction company’s stock, valued at approximately $4,019,000. KB Home accounts for about 1.0% of EMG Holdings L.P.’s investment portfolio, making the stock its 11th largest position.

A number of other large investors have also modified their holdings of KBH. Edgestream Partners L.P. grew its holdings in KB Home by 57.7% during the first quarter. Edgestream Partners L.P. now owns 14,358 shares of the construction company’s stock worth $743,000 after acquiring an additional 5,255 shares during the period. Amundi acquired a new stake in KB Home in the first quarter valued at $313,000. California State Teachers Retirement System lifted its holdings in KB Home by 26.8% in the first quarter. California State Teachers Retirement System now owns 77,299 shares of the construction company’s stock valued at $4,000,000 after acquiring an additional 16,352 shares during the period. Readystate Asset Management LP purchased a new stake in shares of KB Home during the 1st quarter worth $2,250,000. Finally, Royal Bank of Canada boosted its position in shares of KB Home by 4.6% during the 1st quarter. Royal Bank of Canada now owns 64,708 shares of the construction company’s stock worth $3,350,000 after purchasing an additional 2,821 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KBH has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $53.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Citizens Jmp restated a “market outperform” rating and set a $77.00 target price on shares of KB Home in a research report 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. Finally, Truist Financial lifted their price target on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $60.17.

KB Home Stock Performance

Shares of NYSE:KBH opened at $56.30 on Friday. The business’s fifty day moving average price is $55.18 and its two-hundred day moving average price is $55.68. The stock has a market cap of $3.45 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 9.46 and a beta of 1.34. KB Home has a one year low of $44.03 and a one year high of $68.71.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $1.50 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year. As a group, equities research analysts predict that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

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

About KB Home

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.