Millennium Management LLC raised its position in shares of D. R. Horton Inc (NYSE:DHI) by 309.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,053,089 shares of the construction company’s stock after acquiring an additional 3,820,298 shares during the period. D. R. Horton makes up approximately 0.4% of Millennium Management LLC’s holdings, making the stock its 16th biggest holding. Millennium Management LLC owned approximately 1.34% of D. R. Horton worth $258,061,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DHI. Jackson Grant Investment Advisers Inc. bought a new position in D. R. Horton in the 4th quarter valued at $110,000. Calton & Associates Inc. acquired a new position in D. R. Horton during the 4th quarter worth approximately $193,000. IBM Retirement Fund acquired a new stake in D. R. Horton during the 3rd quarter valued at $201,000. Gofen & Glossberg LLC IL purchased a new position in shares of D. R. Horton during the 4th quarter worth $204,000. Finally, Court Place Advisors LLC purchased a new position in shares of D. R. Horton in the 4th quarter worth $204,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.
D. R. Horton Inc (NYSE DHI) opened at $44.76 on Wednesday. D. R. Horton Inc has a 52-week low of $31.98 and a 52-week high of $53.32. The stock has a market capitalization of $16,668.32, a PE ratio of 17.03, a PEG ratio of 1.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.03 and a quick ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a $0.125 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.50 annualized dividend and a yield of 1.12%. D. R. Horton’s payout ratio is 18.73%.
In related news, Director Michael W. Hewatt sold 3,423 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $41.84, for a total value of $143,218.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Donald R. Horton sold 178,200 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.06, for a total value of $7,851,492.00. Following the completion of the transaction, the chairman now directly owns 23,232,112 shares in the company, valued at $1,023,606,854.72. The disclosure for this sale can be found here. Insiders sold a total of 245,602 shares of company stock valued at $10,828,080 over the last quarter. 6.74% of the stock is owned by corporate insiders.
DHI has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on D. R. Horton to $57.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. ValuEngine lowered shares of D. R. Horton from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Mizuho set a $56.00 price objective on shares of D. R. Horton and gave the stock a “hold” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $56.00 target price on shares of D. R. Horton in a research report on Tuesday, January 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of D. R. Horton in a research report on Monday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $52.69.
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D. R. Horton Company Profile
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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