Oppenheimer Asset Management Inc. Boosts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Oppenheimer Asset Management Inc. raised its stake in D.R. Horton, Inc. (NYSE:DHI) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,865 shares of the construction company’s stock after purchasing an additional 1,358 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in D.R. Horton were worth $2,907,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Nemes Rush Group LLC lifted its holdings in shares of D.R. Horton by 74.5% during the fourth quarter. Nemes Rush Group LLC now owns 192 shares of the construction company’s stock worth $27,000 after purchasing an additional 82 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in D.R. Horton during the 4th quarter worth $38,000. Itau Unibanco Holding S.A. acquired a new stake in shares of D.R. Horton in the 4th quarter worth $43,000. Oarsman Capital Inc. boosted its holdings in shares of D.R. Horton by 146.7% in the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company’s stock valued at $46,000 after acquiring an additional 198 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of D.R. Horton in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $127.34 on Thursday. The company has a current ratio of 7.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $123.05 and its 200 day moving average price is $130.49. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $199.85. The stock has a market cap of $39.12 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 4.05 and a beta of 1.37.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the company earned $3.52 earnings per share. As a group, research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton’s payout ratio is 12.11%.

Analyst Ratings Changes

Several research firms recently issued reports on DHI. The Goldman Sachs Group cut their price target on shares of D.R. Horton from $173.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. JMP Securities reduced their target price on D.R. Horton from $210.00 to $180.00 and set a “market outperform” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on shares of D.R. Horton from $132.00 to $111.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Barclays cut their price target on shares of D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, BTIG Research decreased their price objective on shares of D.R. Horton from $171.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $151.15.

Insider Transactions at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total value of $274,555.00. Following the completion of the transaction, the director now owns 2,193 shares of the company’s stock, valued at $280,046.10. The trade was a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

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.