Public Sector Pension Investment Board Has $1.57 Million Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Public Sector Pension Investment Board grew its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 61.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,152 shares of the construction company's stock after acquiring an additional 4,263 shares during the quarter. Public Sector Pension Investment Board's holdings in D.R. Horton were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DHI. Premier Path Wealth Partners LLC raised its holdings in shares of D.R. Horton by 1.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company's stock valued at $872,000 after buying an additional 59 shares during the period. Coldstream Capital Management Inc. grew its position in shares of D.R. Horton by 1.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company's stock worth $739,000 after acquiring an additional 60 shares in the last quarter. Whittier Trust Co. boosted its position in D.R. Horton by 1.7% during the 2nd quarter. Whittier Trust Co. now owns 3,693 shares of the construction company's stock valued at $520,000 after purchasing an additional 63 shares during the period. Values First Advisors Inc. boosted its position in D.R. Horton by 0.7% during the 2nd quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company's stock valued at $1,251,000 after purchasing an additional 66 shares during the period. Finally, Studio Investment Management LLC boosted its position in D.R. Horton by 0.3% during the 2nd quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company's stock worth $3,350,000 after acquiring an additional 70 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DHI. Barclays boosted their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Bank of America boosted their price objective on D.R. Horton from $196.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Evercore ISI boosted their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on D.R. Horton from $141.00 to $154.00 and gave the stock an "underperform" rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, D.R. Horton presently has a consensus rating of "Hold" and an average price target of $183.33.

D.R. Horton Stock Performance

Shares of NYSE DHI traded up $1.95 during trading hours on Tuesday, hitting $192.72. 1,658,079 shares of the company's stock were exchanged, compared to its average volume of 2,477,991. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.89 and a beta of 1.73. The company's 50-day moving average price is $183.62 and its 200-day moving average price is $161.01.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.90 EPS. On average, sell-side analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton declared that its board has authorized a share buyback plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. D.R. Horton's payout ratio is presently 8.17%.

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.