Meitav Investment House Ltd. Takes $704,000 Position in D.R. Horton, Inc. (NYSE:DHI)

Meitav Investment House Ltd. bought a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,756 shares of the construction company’s stock, valued at approximately $704,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norden Group LLC purchased a new position in D.R. Horton in the 1st quarter valued at about $449,000. First Trust Direct Indexing L.P. boosted its position in D.R. Horton by 7.6% during the first quarter. First Trust Direct Indexing L.P. now owns 8,531 shares of the construction company’s stock worth $1,404,000 after acquiring an additional 605 shares during the last quarter. Van ECK Associates Corp grew its stake in D.R. Horton by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 52,045 shares of the construction company’s stock worth $8,564,000 after acquiring an additional 3,244 shares during the period. Private Advisor Group LLC grew its stake in D.R. Horton by 2.8% in the 1st quarter. Private Advisor Group LLC now owns 26,531 shares of the construction company’s stock worth $4,366,000 after acquiring an additional 724 shares during the period. Finally, Regent Peak Wealth Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at $218,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Stock Down 0.2 %

NYSE:DHI opened at $169.00 on Friday. The business’s fifty day moving average price is $186.95 and its 200 day moving average price is $165.18. The firm has a market capitalization of $55.07 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.78 and a beta of 1.72. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 1-year low of $102.23 and a 1-year high of $199.85.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($0.28). D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the business posted $4.45 earnings per share. D.R. Horton’s revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts forecast that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton announced that its board has initiated a stock repurchase plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s payout ratio is currently 11.14%.

Analyst Ratings Changes

DHI has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada lowered their target price on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their price target on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. Finally, Barclays dropped their target price on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.33.

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.