Mirae Asset Global Investments Co. Ltd. Makes New $10.43 Million Investment in D.R. Horton, Inc. $DHI

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 76,307 shares of the construction company’s stock, valued at approximately $10,427,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DHI. Cornerstone Planning Group LLC grew its position in shares of D.R. Horton by 27.9% during the first quarter. Cornerstone Planning Group LLC now owns 330 shares of the construction company’s stock worth $48,000 after acquiring an additional 72 shares during the last quarter. William Allan Corp lifted its position in D.R. Horton by 0.3% in the 3rd quarter. William Allan Corp now owns 27,548 shares of the construction company’s stock valued at $3,764,000 after purchasing an additional 77 shares during the last quarter. GC Wealth Management RIA LLC lifted its position in D.R. Horton by 0.7% in the 1st quarter. GC Wealth Management RIA LLC now owns 11,448 shares of the construction company’s stock valued at $1,571,000 after purchasing an additional 81 shares during the last quarter. Chemistry Wealth Management LLC lifted its position in D.R. Horton by 3.0% in the 2nd quarter. Chemistry Wealth Management LLC now owns 3,098 shares of the construction company’s stock valued at $505,000 after purchasing an additional 91 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in D.R. Horton by 1.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,618 shares of the construction company’s stock valued at $1,078,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $157.12 on Thursday. D.R. Horton, Inc. has a fifty-two week low of $130.40 and a fifty-two week high of $170.79. The firm’s 50-day simple moving average is $140.89 and its 200 day simple moving average is $147.57. The company has a quick ratio of 0.95, a current ratio of 6.01 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.95 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.63 and a beta of 1.35.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.34). The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.07 billion. D.R. Horton had a return on equity of 11.93% and a net margin of 8.74%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 EPS. Equities analysts expect that D.R. Horton, Inc. will post 10.92 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.50 per share. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, November 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. D.R. Horton’s payout ratio is presently 17.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on DHI. Keefe, Bruyette & Woods decreased their target price on shares of D.R. Horton from $160.00 to $152.00 in a research report on Thursday, October 22nd. Morgan Stanley cut their price target on D.R. Horton from $151.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday. Melius Research started coverage on D.R. Horton in a research report on Tuesday, October 6th. They set a “sell” rating and a $128.00 price objective for the company. Evercore reduced their price objective on D.R. Horton from $171.00 to $166.00 in a research report on Thursday, October 8th. Finally, BTIG Research reissued a “buy” rating and issued a $174.00 price objective (down from $184.00) on shares of D.R. Horton in a report on Tuesday, September 22nd. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $151.33.

About D.R. Horton

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company’s operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.