Bank of Nova Scotia Buys 110,189 Shares of D.R. Horton, Inc. (NYSE:DHI)

Bank of Nova Scotia grew its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 292.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,882 shares of the construction company's stock after purchasing an additional 110,189 shares during the period. Bank of Nova Scotia's holdings in D.R. Horton were worth $20,677,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of D.R. Horton by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company's stock worth $339,174,000 after acquiring an additional 120,892 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of D.R. Horton by 98.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 8,266 shares of the construction company's stock worth $1,577,000 after buying an additional 4,098 shares during the last quarter. Zacks Investment Management bought a new position in D.R. Horton during the 3rd quarter valued at $209,000. Continuum Advisory LLC raised its stake in shares of D.R. Horton by 66.1% in the 3rd quarter. Continuum Advisory LLC now owns 387 shares of the construction company's stock valued at $74,000 after purchasing an additional 154 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in D.R. Horton by 0.3% during the third quarter. Geode Capital Management LLC now owns 7,107,912 shares of the construction company's stock valued at $1,351,435,000 after buying an additional 21,073 shares in the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DHI shares. Seaport Res Ptn raised shares of D.R. Horton from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Citigroup reduced their price objective on D.R. Horton from $185.00 to $152.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Bank of America lowered D.R. Horton from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $160.00 to $150.00 in a research report on Monday, January 27th. Royal Bank of Canada reissued an "underperform" rating and set a $125.00 price target on shares of D.R. Horton in a report on Wednesday, January 22nd. Finally, JMP Securities restated a "market outperform" rating and set a $210.00 price objective on shares of D.R. Horton in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $169.14.

D.R. Horton Stock Up 1.6 %

D.R. Horton stock traded up $1.87 during trading hours on Friday, hitting $119.74. The company had a trading volume of 3,642,476 shares, compared to its average volume of 2,904,602. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.92 and a quick ratio of 1.09. The firm has a market capitalization of $37.73 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61. The firm's fifty day moving average is $127.68 and its 200-day moving average is $149.41.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.24. D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The firm had revenue of $7.61 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business's revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, February 7th. D.R. Horton's dividend payout ratio (DPR) is presently 11.31%.

D.R. Horton Profile

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.