New York State Common Retirement Fund increased its position in KB Home (NYSE:KBH) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,413 shares of the construction company’s stock after acquiring an additional 2,228 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of KB Home worth $4,877,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cim Investment Mangement Inc. acquired a new position in KB Home in the first quarter valued at about $203,000. Matarin Capital Management LLC acquired a new position in shares of KB Home during the first quarter worth approximately $15,390,000. Federated Investors Inc. PA lifted its position in shares of KB Home by 49.9% during the first quarter. Federated Investors Inc. PA now owns 524,029 shares of the construction company’s stock worth $14,908,000 after purchasing an additional 174,434 shares in the last quarter. Northern Trust Corp raised its stake in shares of KB Home by 33.6% during the first quarter. Northern Trust Corp now owns 1,937,861 shares of the construction company’s stock worth $55,132,000 after buying an additional 487,495 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in shares of KB Home by 47.8% during the first quarter. Engineers Gate Manager LP now owns 154,010 shares of the construction company’s stock worth $4,382,000 after buying an additional 49,807 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.
Several brokerages have recently issued reports on KBH. Wedbush lowered their price objective on shares of KB Home from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, March 23rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 target price on shares of KB Home in a report on Wednesday, March 21st. ValuEngine cut shares of KB Home from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of KB Home from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, March 27th. Finally, Deutsche Bank cut their price target 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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.44.
NYSE:KBH traded up $0.11 during mid-day trading on Thursday, hitting $25.07. 33,777 shares of the company’s stock were exchanged, compared to its average volume of 1,519,278. KB Home has a fifty-two week low of $20.68 and a fifty-two week high of $38.80. The company has a market cap of $2.21 billion, a PE ratio of 13.49, a P/E/G ratio of 0.56 and a beta of 1.44.
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.
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