Assenagon Asset Management S.A. Decreases Stock Holdings in KB Home $KBH

Key Points

• Assenagon Asset Management cut its KB Home stake by 69.3% in the first quarter, selling 130,961 shares and ending with 58,002 shares worth about $3.0 million.
• KB Home’s latest earnings missed EPS expectations by a penny, with $0.43 per share on revenue of $1.11 billion; revenue fell 27.3% year over year.
• Analysts remain cautious overall, with KB Home carrying a consensus “Hold” rating and an average target price of $60.17, even as the stock recently traded around $62.57.

Assenagon Asset Management S.A. lessened its stake in KB Home (NYSE:KBH - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,002 shares of the construction company's stock after selling 130,961 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of KB Home worth $3,002,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted its holdings in KB Home by 953.9% in the 4th quarter. Hsbc Holdings PLC now owns 33,776 shares of the construction company's stock valued at $1,920,000 after purchasing an additional 30,571 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of KB Home by 15.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,275 shares of the construction company's stock valued at $128,000 after buying an additional 304 shares during the period. Corient Private Wealth LLC lifted its stake in shares of KB Home by 7.2% in the 4th quarter. Corient Private Wealth LLC now owns 23,485 shares of the construction company's stock valued at $1,325,000 after purchasing an additional 1,575 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in KB Home by 376,300.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,764 shares of the construction company's stock worth $212,000 after buying an additional 3,763 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in KB Home by 3.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 66,753 shares of the construction company's stock valued at $3,766,000 after purchasing an additional 2,347 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Stock Down 0.1%

Shares of KBH opened at $62.57 on Wednesday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 10.54 and a beta of 1.37. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71. The stock has a 50 day moving average price of $52.20 and a 200 day moving average price of $55.98.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm's revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. On average, equities analysts anticipate that KB Home will post 3.25 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were given 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 payout ratio is 34.84%.

Wall Street Analyst Weigh In

KBH has been the subject of a number of research analyst reports. Barclays raised 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. Bank of America lowered their price objective on shares of KB Home from $63.00 to $56.00 and set a "neutral" rating for the company in a research note on Wednesday, March 25th. Citigroup restated a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Truist Financial upped their target price on shares of KB Home from $50.00 to $56.00 and gave the stock a "hold" rating in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $53.00 target price on shares of KB Home in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.

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