Impax Asset Management Group plc purchased a new position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,331 shares of the construction company's stock, valued at approximately $4,260,000.
A number of other hedge funds have also bought and sold shares of DHI. Bfsg LLC lifted its holdings in D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company's stock worth $25,000 after acquiring an additional 74 shares during the period. Signature Resources Capital Management LLC bought a new stake in shares of D.R. Horton in the second quarter valued at $31,000. Wolff Wiese Magana LLC raised its stake in shares of D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company's stock valued at $40,000 after buying an additional 196 shares during the period. Grove Bank & Trust raised its stake in shares of D.R. Horton by 76.2% in the third quarter. Grove Bank & Trust now owns 215 shares of the construction company's stock valued at $41,000 after buying an additional 93 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of D.R. Horton in the 2nd quarter worth about $42,000. 90.63% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
DHI has been the subject of a number of research reports. BTIG Research cut their price objective on D.R. Horton from $190.00 to $186.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on D.R. Horton from $180.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday. Wells Fargo & Company cut their price objective 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. Evercore ISI lowered their target price on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on D.R. Horton from $178.00 to $208.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of "Moderate Buy" and a consensus price target of $185.87.
Read Our Latest Stock Report on D.R. Horton
D.R. Horton Stock Down 3.8 %
DHI traded down $6.56 during trading on Wednesday, hitting $166.71. 6,452,623 shares of the company's stock traded hands, compared to its average volume of 2,517,082. The company's 50 day simple moving average is $185.82 and its two-hundred day simple moving average is $165.98. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12-month low of $118.07 and a 12-month high of $199.85. The stock has a market capitalization of $54.32 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.56 and a beta of 1.74.
D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. D.R. Horton's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.45 earnings per share. Analysts predict that D.R. Horton, Inc. will post 15.64 earnings per share for the current fiscal year.
D.R. Horton declared that its Board of Directors has approved a share buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. This is a boost from D.R. Horton's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton's dividend payout ratio is presently 8.36%.
About D.R. Horton
(
Free Report)
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.
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