Studio Investment Management LLC Boosts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Studio Investment Management LLC grew its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,770 shares of the construction company’s stock after purchasing an additional 70 shares during the quarter. Studio Investment Management LLC’s holdings in D.R. Horton were worth $3,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versor Investments LP grew its position in shares of D.R. Horton by 9.3% during the 4th quarter. Versor Investments LP now owns 2,500 shares of the construction company’s stock valued at $380,000 after acquiring an additional 213 shares during the period. Ieq Capital LLC increased its position in D.R. Horton by 1.9% in the fourth quarter. Ieq Capital LLC now owns 5,249 shares of the construction company’s stock worth $798,000 after buying an additional 97 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of D.R. Horton by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,476 shares of the construction company’s stock valued at $528,000 after buying an additional 357 shares during the period. Westpac Banking Corp lifted its position in shares of D.R. Horton by 5.4% during the 4th quarter. Westpac Banking Corp now owns 22,155 shares of the construction company’s stock valued at $3,367,000 after buying an additional 1,144 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in D.R. Horton by 14.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 320,644 shares of the construction company’s stock worth $47,530,000 after acquiring an additional 39,456 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Stock Up 0.0 %

DHI opened at $187.60 on Wednesday. The business’s fifty day simple moving average is $172.32 and its 200 day simple moving average is $157.02. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $193.63. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $61.13 billion, a PE ratio of 12.77, a P/E/G ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion for 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%. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $3.90 EPS. As a group, research analysts expect that D.R. Horton, Inc. will post 14.03 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 8th. Stockholders of record on Thursday, August 1st were paid 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 0.64%. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

D.R. Horton declared that its Board of Directors has approved a share repurchase program on Thursday, July 18th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Bank of America upped their price target on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI raised their price target on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. JMP Securities boosted their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada lifted their target price on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $182.07.

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.