IndexIQ Advisors LLC Buys Shares of 10,279 KB Home (NYSE:KBH)

IndexIQ Advisors LLC bought a new stake in KB Home (NYSE:KBH) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,279 shares of the construction company’s stock, valued at approximately $186,000.

A number of other hedge funds also recently modified their holdings of KBH. Norges Bank acquired a new position in KB Home in the fourth quarter valued at approximately $44,059,000. Amundi Pioneer Asset Management Inc. boosted its stake in KB Home by 477.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,310,371 shares of the construction company’s stock valued at $44,908,000 after acquiring an additional 1,083,552 shares during the period. Nuveen Asset Management LLC boosted its stake in KB Home by 78.6% in the fourth quarter. Nuveen Asset Management LLC now owns 1,480,056 shares of the construction company’s stock valued at $50,722,000 after acquiring an additional 651,355 shares during the period. Victory Capital Management Inc. boosted its stake in KB Home by 200.3% in the first quarter. Victory Capital Management Inc. now owns 480,712 shares of the construction company’s stock valued at $8,701,000 after acquiring an additional 320,637 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in KB Home in the first quarter valued at approximately $3,475,000. Institutional investors own 89.52% of the company’s stock.

A number of equities analysts have commented on KBH shares. Wedbush decreased their target price on KB Home from $37.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Royal Bank of Canada reiterated a “buy” rating and set a $26.00 price objective on shares of KB Home in a research report on Thursday, March 26th. TheStreet downgraded KB Home from a “b-” rating to a “c+” rating in a research report on Tuesday, March 31st. Susquehanna Bancshares downgraded KB Home from a “positive” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted their price objective on KB Home from $21.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. KB Home presently has an average rating of “Buy” and a consensus target price of $31.58.

KBH opened at $30.53 on Monday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.76 and a beta of 1.88. KB Home has a 1-year low of $9.82 and a 1-year high of $40.51. The business has a 50 day moving average price of $23.18 and a two-hundred day moving average price of $30.66.

KB Home (NYSE:KBH) last released its earnings results on Thursday, March 26th. The construction company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.19. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $959.73 million. KB Home had a return on equity of 12.86% and a net margin of 6.20%. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts predict that KB Home will post 2.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.09 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.18%. KB Home’s dividend payout ratio is currently 12.63%.

KB Home Company Profile

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

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