CIBC World Markets Inc. Buys New Position in KB Home (KBH)

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CIBC World Markets Inc. purchased a new position in KB Home (NYSE:KBH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 191,529 shares of the construction company’s stock, valued at approximately $5,449,000. CIBC World Markets Inc. owned about 0.22% of KB Home as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Xact Kapitalforvaltning AB increased its stake in KB Home by 53.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 11,774 shares of the construction company’s stock valued at $335,000 after purchasing an additional 4,100 shares in the last quarter. Legal & General Group Plc grew its position in KB Home by 70.2% during the first quarter. Legal & General Group Plc now owns 136,709 shares of the construction company’s stock valued at $3,889,000 after buying an additional 56,390 shares during the period. Sciencast Management LP bought a new stake in KB Home during the first quarter valued at approximately $558,000. Point72 Asia Hong Kong Ltd bought a new stake in KB Home during the first quarter valued at approximately $238,000. Finally, Cubist Systematic Strategies LLC bought a new stake in KB Home during the first quarter valued at approximately $2,416,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on KBH. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $34.00 price target on shares of KB Home in a report on Wednesday, March 21st. Barclays set a $27.00 price target on shares of KB Home and gave the company an “underweight” rating in a research note on Friday, March 23rd. ValuEngine upgraded shares of KB Home from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 23rd. Mizuho set a $33.00 price target on shares of KB Home and gave the stock a “hold” rating in a report on Sunday, March 25th. Finally, Deutsche Bank lowered their price objective on shares of KB Home from $36.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, April 9th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.69.

NYSE KBH opened at $27.24 on Friday. The firm has a market cap of $2.20 billion, a PE ratio of 10.94, a P/E/G ratio of 0.56 and a beta of 1.44. KB Home has a 52 week low of $20.68 and a 52 week high of $38.80.

KB Home (NYSE:KBH) last released its earnings results on Thursday, June 28th. The construction company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. KB Home had a return on equity of 12.37% and a net margin of 2.67%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.33 EPS. KB Home’s revenue was up 9.8% compared to the same quarter last year. research analysts expect that KB Home will post 2.84 earnings per share for the current year.

About KB Home

KB Home operates as a homebuilding company in the United States. It 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. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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