1832 Asset Management L.P. Has $106.34 Million Position in D.R. Horton, Inc. $DHI

1832 Asset Management L.P. raised its stake in D.R. Horton, Inc. (NYSE:DHI) by 82.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 824,851 shares of the construction company’s stock after purchasing an additional 372,446 shares during the quarter. 1832 Asset Management L.P.’s holdings in D.R. Horton were worth $106,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of D.R. Horton by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 33,664,013 shares of the construction company’s stock valued at $4,279,706,000 after acquiring an additional 642,642 shares in the last quarter. Norges Bank purchased a new stake in shares of D.R. Horton during the second quarter worth $494,278,000. Dimensional Fund Advisors LP boosted its position in D.R. Horton by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,509,407 shares of the construction company’s stock valued at $446,093,000 after purchasing an additional 33,412 shares during the last quarter. Franklin Resources Inc. grew its stake in D.R. Horton by 16.4% in the second quarter. Franklin Resources Inc. now owns 3,200,176 shares of the construction company’s stock valued at $412,567,000 after purchasing an additional 450,362 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in D.R. Horton by 42.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,827,694 shares of the construction company’s stock worth $378,628,000 after purchasing an additional 846,085 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Insider Buying and Selling at D.R. Horton

In related news, Chairman David V. Auld sold 30,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $182.21, for a total transaction of $5,466,300.00. Following the completion of the transaction, the chairman owned 815,672 shares of the company’s stock, valued at approximately $148,623,595.12. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Aron M. Odom sold 1,376 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $183.00, for a total value of $251,808.00. Following the sale, the senior vice president owned 6,457 shares of the company’s stock, valued at approximately $1,181,631. The trade was a 17.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,376 shares of company stock worth $5,898,848 over the last ninety days. Company insiders own 0.54% of the company’s stock.

D.R. Horton Stock Up 4.2%

Shares of D.R. Horton stock opened at $165.08 on Thursday. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $184.54. The company has a quick ratio of 1.18, a current ratio of 6.48 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $154.01 and a two-hundred day moving average price of $148.27. The stock has a market capitalization of $48.21 billion, a P/E ratio of 14.24, a PEG ratio of 1.88 and a beta of 1.38.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 28th. The construction company reported $3.04 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.25). The firm had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.44 billion. D.R. Horton had a net margin of 10.47% and a return on equity of 14.39%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.92 EPS. Equities analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.40. D.R. Horton’s dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DHI. Evercore ISI set a $169.00 price target on D.R. Horton and gave the company an “in-line” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods cut their price objective on shares of D.R. Horton from $178.00 to $175.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of D.R. Horton in a research note on Monday. Wells Fargo & Company boosted their target price on shares of D.R. Horton from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Citigroup restated a “market outperform” rating on shares of D.R. Horton in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, D.R. Horton has a consensus rating of “Hold” and an average target price of $160.15.

D.R. Horton 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.