GAMMA Investing LLC Purchases 823 Shares of D.R. Horton, Inc. (NYSE:DHI)

GAMMA Investing LLC lifted its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 24.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,241 shares of the construction company’s stock after acquiring an additional 823 shares during the quarter. GAMMA Investing LLC’s holdings in D.R. Horton were worth $809,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new stake in D.R. Horton during the 1st quarter valued at $1,249,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in D.R. Horton by 85.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after purchasing an additional 16,252 shares during the period. Alaska Permanent Fund Corp grew its holdings in D.R. Horton by 312.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock valued at $1,934,000 after buying an additional 8,902 shares in the last quarter. Bessemer Group Inc. increased its position in shares of D.R. Horton by 107.6% during the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after buying an additional 7,699 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of D.R. Horton by 92.3% in the first quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after buying an additional 199,668 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

Shares of DHI stock opened at $185.48 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $199.85. The company has a market capitalization of $61.08 billion, a P/E ratio of 12.74, a PEG ratio of 0.89 and a beta of 1.72. The stock has a 50 day moving average price of $184.96 and a two-hundred day moving average price of $162.16.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results 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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the company posted $3.90 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, July 19th. Bank of America lifted their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company upped their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Barclays lifted their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, D.R. Horton presently has a consensus rating of “Hold” and a consensus price target of $183.33.

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.