D.R. Horton, Inc. (NYSE:DHI) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in D.R. Horton, Inc. (NYSE:DHI) by 829.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,085 shares of the construction company’s stock after acquiring an additional 60,762 shares during the quarter. Intech Investment Management LLC’s holdings in D.R. Horton were worth $9,595,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in D.R. Horton by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares during the period. Assenagon Asset Management S.A. increased its position in shares of D.R. Horton by 1,761.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after acquiring an additional 987,834 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of D.R. Horton by 51.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after acquiring an additional 561,337 shares in the last quarter. Long Pond Capital LP lifted its stake in shares of D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after acquiring an additional 537,276 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in D.R. Horton by 62.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after purchasing an additional 525,705 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DHI. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and cut their target price for the company from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Bank of America upped their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods boosted their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. 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 stock. According to data from MarketBeat, D.R. Horton has a consensus rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Stock Performance

DHI stock opened at $191.91 on Friday. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85. The stock has a market capitalization of $63.20 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.86 and a beta of 1.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The stock’s fifty day moving average is $180.71 and its two-hundred day moving average is $159.35.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the firm posted $3.90 EPS. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton declared that its Board of Directors has initiated a share buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

About D.R. Horton

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.