Assenagon Asset Management S.A. Grows Position in KB Home (NYSE:KBH)

Assenagon Asset Management S.A. boosted its stake in shares of KB Home (NYSE:KBH) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,843 shares of the construction company’s stock after acquiring an additional 1,890 shares during the period. Assenagon Asset Management S.A.’s holdings in KB Home were worth $1,830,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado grew its holdings in shares of KB Home by 3.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock worth $353,000 after purchasing an additional 189 shares during the period. Pacer Advisors Inc. grew its stake in KB Home by 5.7% during the second quarter. Pacer Advisors Inc. now owns 14,705 shares of the construction company’s stock worth $1,032,000 after buying an additional 794 shares during the period. Thrivent Financial for Lutherans increased its position in shares of KB Home by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock worth $1,304,000 after acquiring an additional 162 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of KB Home by 1,609.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the construction company’s stock valued at $138,000 after acquiring an additional 1,851 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of KB Home by 18.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,406 shares of the construction company’s stock valued at $239,000 after acquiring an additional 539 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

KBH has been the topic of several research reports. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and cut their price objective for the company from $70.00 to $67.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods reduced their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research report on Friday, January 17th. Evercore ISI upped their price target on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Bank of America decreased their target price on shares of KB Home from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.63.

KB Home Stock Performance

Shares of KBH stock opened at $67.80 on Friday. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.90 and a beta of 1.86. KB Home has a one year low of $58.05 and a one year high of $89.70. The company’s 50-day simple moving average is $72.05 and its 200-day simple moving average is $77.97.

KB Home (NYSE:KBH) last released its earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the business posted $1.85 EPS. KB Home’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that KB Home will post 8.67 EPS for the current year.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.