Peapack Gladstone Financial Corp Has $4.50 Million Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Peapack Gladstone Financial Corp lifted its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 41.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,586 shares of the construction company's stock after buying an additional 6,936 shares during the quarter. Peapack Gladstone Financial Corp's holdings in D.R. Horton were worth $4,500,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC purchased a new stake in shares of D.R. Horton during the 3rd quarter valued at $1,853,178,000. FMR LLC raised its holdings in shares of D.R. Horton by 44.7% in the 3rd quarter. FMR LLC now owns 7,906,129 shares of the construction company's stock worth $1,508,252,000 after purchasing an additional 2,442,581 shares during the period. Principal Financial Group Inc. lifted its stake in shares of D.R. Horton by 51.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company's stock valued at $233,525,000 after purchasing an additional 561,337 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of D.R. Horton during the 3rd quarter worth about $72,672,000. Finally, Banque Pictet & Cie SA increased its position in D.R. Horton by 592.4% during the 2nd quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company's stock worth $56,784,000 after purchasing an additional 344,731 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays reiterated an "equal weight" rating and set a $170.00 price objective (down from $192.00) on shares of D.R. Horton in a research note on Wednesday. Raymond James cut shares of D.R. Horton from an "outperform" rating to a "market perform" rating in a research report on Thursday, November 7th. UBS Group cut their price objective on D.R. Horton from $217.00 to $214.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Bank of America increased their target price on D.R. Horton from $196.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reduced their price target on D.R. Horton from $154.00 to $145.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, D.R. Horton has a consensus rating of "Hold" and a consensus target price of $180.60.

Insiders Place Their Bets

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.74% of the stock is currently owned by insiders.

D.R. Horton Stock Performance

DHI traded down $1.34 on Friday, hitting $149.87. 4,895,541 shares of the company's stock were exchanged, compared to its average volume of 2,513,076. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $171.02 and a two-hundred day moving average of $168.96. D.R. Horton, Inc. has a twelve month low of $133.02 and a twelve month high of $199.85. The firm has a market cap of $48.13 billion, a PE ratio of 10.44, a P/E/G ratio of 0.57 and a beta of 1.71.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) 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 company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period last year, the business posted $4.45 EPS. The company's revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts anticipate that D.R. Horton, Inc. will post 14.17 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from D.R. Horton's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, November 12th. D.R. Horton's payout ratio is 11.14%.

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.