Readystate Asset Management LP Makes New Investment in KB Home $KBH

Key Points

• Readystate Asset Management acquired 43,478 KB Home shares worth approximately $2.25 million, while institutional investors collectively own 96.09% of the company.
• KB Home’s latest quarterly earnings missed estimates slightly at $0.43 per share, and revenue fell 27.3% year over year to $1.11 billion.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 1.7% yield; analysts maintain a consensus “Hold” rating with a $60.17 target price.

Readystate Asset Management LP purchased a new position in KB Home (NYSE:KBH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,478 shares of the construction company's stock, valued at approximately $2,250,000. Readystate Asset Management LP owned about 0.07% of KB Home at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company's stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. First Horizon Corp grew its holdings in KB Home by 178.9% during the fourth quarter. First Horizon Corp now owns 502 shares of the construction company's stock valued at $28,000 after purchasing an additional 322 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company's stock valued at $33,000 after purchasing an additional 250 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home in the third quarter worth $36,000. Finally, Rothschild Investment LLC boosted its holdings in shares of KB Home by 391.0% during the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company's stock worth $46,000 after buying an additional 653 shares during the period. Institutional investors own 96.09% of the company's stock.

KB Home Stock Up 0.3%

Shares of KBH opened at $57.77 on Wednesday. The company has a 50-day moving average price of $54.81 and a two-hundred day moving average price of $55.72. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 9.55 and a beta of 1.34. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71.

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 the consensus estimate of $0.44 by ($0.01). The company 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 company's revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 earnings per share. Equities research analysts expect that KB Home will post 3.3 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, August 6th. KB Home's dividend payout ratio is currently 34.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KBH shares. Citigroup reiterated a "market outperform" rating on shares of KB Home in a research note on Wednesday, June 17th. Zacks Research upgraded KB Home from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Truist Financial increased their target price on KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, June 24th. Seaport Research Partners reaffirmed a "sell" rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Finally, Wells Fargo & Company raised their target price on KB Home from $50.00 to $52.00 and gave the company an "underweight" rating in a report on Wednesday, June 24th. Four research 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. According to data from MarketBeat, KB Home presently has an average rating of "Hold" and a consensus target price 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.

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