Narwhal Capital Management Purchases 4,765 Shares of D.R. Horton, Inc. (NYSE:DHI)

Narwhal Capital Management grew its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 179.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,418 shares of the construction company’s stock after purchasing an additional 4,765 shares during the period. Narwhal Capital Management’s holdings in D.R. Horton were worth $1,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DHI. Bfsg LLC boosted its stake in D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after buying an additional 74 shares in the last quarter. RiverPark Advisors LLC bought a new position in shares of D.R. Horton during the 1st quarter valued at $29,000. Riverview Trust Co purchased a new position in D.R. Horton in the 1st quarter worth $30,000. Signature Resources Capital Management LLC bought a new stake in D.R. Horton in the second quarter worth $31,000. Finally, Wolff Wiese Magana LLC boosted its position in D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after buying an additional 196 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DHI. Wells Fargo & Company lifted their price target on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Finally, Bank of America increased their price objective on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.67.

D.R. Horton Stock Performance

D.R. Horton stock opened at $180.38 on Wednesday. The stock’s 50 day moving average is $187.60 and its 200 day moving average is $164.25. The company has a market capitalization of $59.40 billion, a P/E ratio of 12.28, a PEG ratio of 0.78 and a beta of 1.72. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $199.85. 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 declared that its board has initiated a stock repurchase program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.