D.R. Horton, Inc. (NYSE:DHI) Stake Increased by Covestor Ltd

Covestor Ltd increased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 6.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,064 shares of the construction company’s stock after purchasing an additional 66 shares during the quarter. Covestor Ltd’s holdings in D.R. Horton were worth $203,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy CG LLC purchased a new position in D.R. Horton during the 3rd quarter valued at about $4,220,000. Concurrent Investment Advisors LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $1,249,000. Bessemer Group Inc. increased its stake in D.R. Horton by 107.6% in the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after buying an additional 7,699 shares during the period. Canada Pension Plan Investment Board lifted its position in D.R. Horton by 92.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after buying an additional 199,668 shares in the last quarter. Finally, DNB Asset Management AS boosted its stake in shares of D.R. Horton by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 50,605 shares of the construction company’s stock valued at $7,132,000 after buying an additional 4,723 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Trading Up 0.4 %

D.R. Horton stock opened at $168.79 on Monday. The business’s 50-day simple moving average is $184.62 and its 200-day simple moving average is $166.30. D.R. Horton, Inc. has a 52 week low of $120.10 and a 52 week high of $199.85. The firm has a market capitalization of $55.00 billion, a PE ratio of 11.75, a PEG ratio of 0.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the previous year, the business earned $4.45 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts forecast that D.R. Horton, Inc. will post 15.54 earnings per share for the current year.

D.R. Horton declared that its board has authorized a stock buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. D.R. Horton’s payout ratio is 8.36%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DHI. Evercore ISI dropped their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Raymond James lowered D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. Wells Fargo & Company reduced their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Barclays reduced their target price on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.87.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.