Legacy CG LLC Makes New $4.22 Million Investment in D.R. Horton, Inc. (NYSE:DHI)

Legacy CG LLC bought a new stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,119 shares of the construction company's stock, valued at approximately $4,220,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of DHI. Impax Asset Management Group plc acquired a new position in D.R. Horton during the third quarter worth approximately $4,260,000. PDS Planning Inc purchased a new position in D.R. Horton in the 3rd quarter valued at approximately $222,000. Asset Management One Co. Ltd. lifted its holdings in shares of D.R. Horton by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 117,316 shares of the construction company's stock valued at $22,380,000 after purchasing an additional 2,712 shares in the last quarter. National Pension Service increased its position in D.R. Horton by 6.0% during the 3rd quarter. National Pension Service now owns 1,108,703 shares of the construction company's stock worth $211,507,000 after purchasing an additional 62,971 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in D.R. Horton by 10.6% in the 3rd quarter. Van ECK Associates Corp now owns 57,284 shares of the construction company's stock worth $10,328,000 after acquiring an additional 5,501 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Trading Up 1.5 %

DHI traded up $2.51 during trading on Tuesday, reaching $173.25. 3,225,330 shares of the company's stock were exchanged, compared to its average volume of 2,498,688. D.R. Horton, Inc. has a one year low of $116.22 and a one year high of $199.85. 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 market capitalization of $56.45 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. The firm has a fifty day moving average price of $185.82 and a two-hundred day moving average price of $165.98.

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). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the prior year, the business earned $4.45 earnings per share. D.R. Horton's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that D.R. Horton, Inc. will post 15.64 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.60 annualized dividend and a yield of 0.92%. This is an increase from D.R. Horton's previous quarterly dividend of $0.30. D.R. Horton's dividend payout ratio (DPR) is currently 8.36%.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DHI shares. Bank of America increased their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Evercore ISI decreased their target price on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Wedbush upgraded shares of D.R. Horton from an "underperform" rating to a "neutral" rating and set a $165.00 price objective on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of D.R. Horton from $180.00 to $188.00 and gave the company a "neutral" rating in a report on Monday. Finally, Wells Fargo & Company cut their price objective on shares of D.R. Horton from $220.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. 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 stock. According to MarketBeat, D.R. Horton currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.87.

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.