Sumitomo Life Insurance Co. Makes New Investment in D.R. Horton, Inc. $DHI

Sumitomo Life Insurance Co. bought a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,987 shares of the construction company’s stock, valued at approximately $812,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in D.R. Horton by 22.1% in the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company’s stock valued at $5,321,849,000 after acquiring an additional 6,695,592 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of D.R. Horton during the 2nd quarter worth approximately $4,067,842,000. Capital Research Global Investors increased its position in shares of D.R. Horton by 0.3% during the fourth quarter. Capital Research Global Investors now owns 4,647,088 shares of the construction company’s stock valued at $669,330,000 after purchasing an additional 13,155 shares during the period. Norges Bank acquired a new position in shares of D.R. Horton in the fourth quarter valued at $649,305,000. Finally, Morgan Stanley lifted its position in D.R. Horton by 1.9% in the fourth quarter. Morgan Stanley now owns 3,684,724 shares of the construction company’s stock worth $530,711,000 after purchasing an additional 67,578 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DHI shares. BTIG Research set a $184.00 price target on shares of D.R. Horton in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Zelman & Associates upgraded shares of D.R. Horton from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 7th. Wells Fargo & Company lowered their target price on shares of D.R. Horton from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of D.R. Horton from $175.00 to $167.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $166.92.

D.R. Horton Trading Up 0.7%

Shares of D.R. Horton stock opened at $148.43 on Friday. The stock has a market capitalization of $41.52 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $184.54. The company has a quick ratio of 1.04, a current ratio of 6.43 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $151.80 and a 200 day simple moving average of $149.75.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.18. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.10 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $3.36 earnings per share. Research analysts expect that D.R. Horton, Inc. will post 10.47 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a $0.45 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.80 annualized dividend and a yield of 1.2%. D.R. Horton’s payout ratio is presently 17.13%.

D.R. Horton Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.