Montecito Bank & Trust Buys Shares of 3,853 D.R. Horton, Inc. (NYSE:DHI)

Montecito Bank & Trust acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,853 shares of the construction company's stock, valued at approximately $735,000.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of D.R. Horton by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company's stock valued at $339,174,000 after buying an additional 120,892 shares in the last quarter. Graypoint LLC increased its stake in D.R. Horton by 11.6% in the third quarter. Graypoint LLC now owns 3,843 shares of the construction company's stock valued at $733,000 after acquiring an additional 400 shares during the period. Concurrent Investment Advisors LLC raised its position in D.R. Horton by 9.6% in the third quarter. Concurrent Investment Advisors LLC now owns 9,903 shares of the construction company's stock worth $1,889,000 after purchasing an additional 868 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in D.R. Horton during the third quarter valued at approximately $292,000. Finally, Amalgamated Bank boosted its stake in D.R. Horton by 0.5% in the 3rd quarter. Amalgamated Bank now owns 60,286 shares of the construction company's stock valued at $11,501,000 after buying an additional 296 shares in the last quarter. Institutional investors own 90.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Bank of America lifted their price objective on D.R. Horton from $196.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Citigroup reduced their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. JMP Securities raised their target price on D.R. Horton from $170.00 to $210.00 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Wells Fargo & Company decreased their target price on shares of D.R. Horton from $220.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Finally, Raymond James lowered D.R. Horton from an "outperform" rating to a "market perform" rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $185.87.

D.R. Horton Stock Up 0.6 %

D.R. Horton stock traded up $1.00 during midday trading on Friday, reaching $169.11. The stock had a trading volume of 1,197,747 shares, compared to its average volume of 2,511,218. The company has a fifty day moving average price of $185.40 and a two-hundred day moving average price of $165.98. The company has a market capitalization of $55.10 billion, a P/E ratio of 11.71, a PEG ratio of 0.57 and a beta of 1.74. 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 $120.10 and a 12 month high of $199.85.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.17 by ($0.25). The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.45 earnings per share. As a group, equities analysts expect that D.R. Horton, Inc. will post 15.64 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend 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%.

D.R. Horton declared that its board has initiated a share buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

D.R. Horton Company 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.