1,166 Shares in D.R. Horton, Inc. (NYSE:DHI) Purchased by PDS Planning Inc

PDS Planning Inc acquired a new position in D.R. Horton, Inc. (NYSE:DHI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,166 shares of the construction company’s stock, valued at approximately $222,000.

Several other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new stake in shares of D.R. Horton during the 1st quarter worth approximately $1,249,000. Bessemer Group Inc. boosted its stake 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 purchasing an additional 7,699 shares during the period. Canada Pension Plan Investment Board grew 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 purchasing an additional 199,668 shares during the last quarter. Concord Investment Counsel Inc. purchased a new position in D.R. Horton in the 1st quarter worth about $4,161,000. Finally, DNB Asset Management AS lifted its holdings in D.R. Horton by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 50,605 shares of the construction company’s stock valued at $7,132,000 after buying an additional 4,723 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DHI. UBS Group dropped their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday. Barclays decreased their target price on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Citigroup dropped their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, BTIG Research decreased their price objective on D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, D.R. Horton has an average rating of “Moderate Buy” and an average target price of $185.87.

D.R. Horton Trading Up 1.5 %

NYSE DHI opened at $173.25 on Wednesday. D.R. Horton, Inc. has a 52 week low of $116.22 and a 52 week high of $199.85. The company has a 50 day moving average price of $185.82 and a 200 day moving average price of $165.98. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a market cap of $56.45 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the company posted $4.45 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that D.R. Horton, Inc. will post 15.64 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. D.R. Horton’s dividend payout ratio (DPR) is 8.36%.

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

About D.R. Horton

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.