Meiji Yasuda Asset Management Co Ltd. Grows Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Meiji Yasuda Asset Management Co Ltd. raised its position in D.R. Horton, Inc. (NYSE:DHI) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,822 shares of the construction company’s stock after buying an additional 638 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in D.R. Horton were worth $680,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its holdings in D.R. Horton by 12.0% during the fourth quarter. Brown Advisory Inc. now owns 5,461 shares of the construction company’s stock valued at $830,000 after purchasing an additional 587 shares during the last quarter. CreativeOne Wealth LLC bought a new position in D.R. Horton in the 4th quarter worth approximately $339,000. Allstate Corp bought a new stake in D.R. Horton during the 4th quarter valued at $211,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of D.R. Horton by 30.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 57,040 shares of the construction company’s stock worth $8,669,000 after acquiring an additional 13,457 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in shares of D.R. Horton in the fourth quarter valued at $253,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analyst Weigh In

DHI has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. UBS Group increased their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $183.33.

D.R. Horton Stock Performance

NYSE DHI opened at $191.91 on Friday. The company has a 50-day simple moving average of $180.71 and a two-hundred day simple moving average of $159.35. D.R. Horton, Inc. has a 12-month low of $100.08 and a 12-month high of $199.85. The firm has a market cap 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 quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23.

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

D.R. Horton Dividend Announcement

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

D.R. Horton announced that its Board of Directors has initiated a share repurchase program on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.