Freemont Management S.A. Acquires Shares of 8,000 D.R. Horton, Inc. (NYSE:DHI)

Freemont Management S.A. acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,000 shares of the construction company's stock, valued at approximately $1,526,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy CG LLC purchased a new stake in D.R. Horton during the third quarter valued at approximately $4,220,000. Bessemer Group Inc. raised its position in D.R. Horton by 107.6% during the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company's stock valued at $2,444,000 after purchasing an additional 7,699 shares during the period. Canada Pension Plan Investment Board raised its position in D.R. Horton by 92.3% during the first quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company's stock valued at $68,448,000 after purchasing an additional 199,668 shares during the period. DNB Asset Management AS raised its holdings in shares of D.R. Horton by 10.3% in the second quarter. DNB Asset Management AS now owns 50,605 shares of the construction company's stock worth $7,132,000 after buying an additional 4,723 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of D.R. Horton by 36.1% in the first quarter. Atria Investments Inc now owns 61,729 shares of the construction company's stock worth $10,157,000 after buying an additional 16,386 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Stock Up 1.7 %

NYSE DHI traded up $2.68 during midday trading on Thursday, hitting $163.81. 2,303,384 shares of the company traded hands, compared to its average volume of 2,517,515. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. The company has a market cap of $53.38 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. The company's 50-day simple moving average is $183.29 and its 200-day simple moving average is $166.68. D.R. Horton, Inc. has a 52 week low of $125.28 and a 52 week high of $199.85.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its 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 net margin of 12.93% and a return on equity of 19.24%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period last year, the business posted $4.45 EPS. The firm's revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that D.R. Horton, Inc. will post 14.92 earnings per share for the current year.

D.R. Horton announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

D.R. Horton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, November 12th. This is a positive change from D.R. Horton's previous quarterly dividend of $0.30. D.R. Horton's dividend payout ratio is currently 11.14%.

Wall Street Analyst Weigh In

DHI has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on D.R. Horton from $220.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Evercore ISI reduced their price target on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. UBS Group reduced their price target on D.R. Horton from $217.00 to $214.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Finally, Raymond James downgraded D.R. Horton from an "outperform" rating to a "market perform" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus 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.