Advisors Asset Management Inc. Raises Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Advisors Asset Management Inc. lifted its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,416 shares of the construction company’s stock after acquiring an additional 3,990 shares during the quarter. Advisors Asset Management Inc.’s holdings in D.R. Horton were worth $5,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV increased its position in shares of D.R. Horton by 360.0% during the third quarter. KBC Group NV now owns 271,038 shares of the construction company’s stock valued at $51,706,000 after acquiring an additional 212,112 shares during the last quarter. Legacy CG LLC bought a new position in D.R. Horton during the third quarter valued at $4,220,000. Bessemer Group Inc. grew its holdings in 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 D.R. Horton by 92.3% during the first quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after purchasing an additional 199,668 shares during the period. Finally, DNB Asset Management AS grew its holdings in D.R. Horton by 10.3% during the second quarter. DNB Asset Management AS now owns 50,605 shares of the construction company’s stock valued at $7,132,000 after purchasing an additional 4,723 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

NYSE:DHI opened at $162.05 on Friday. The firm has a market capitalization of $52.80 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 0.59 and a beta of 1.74. D.R. Horton, Inc. has a 52-week low of $125.28 and a 52-week high of $199.85. The stock has a fifty day moving average of $180.39 and a 200 day moving average of $167.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the previous year, the business earned $4.45 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts expect that D.R. Horton, Inc. will post 14.4 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.40 per share. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. D.R. Horton’s dividend payout ratio (DPR) is presently 11.14%.

Analyst Ratings Changes

DHI has been the subject of several research reports. Barclays reduced their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. BTIG Research reduced 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. Royal Bank of Canada reduced their price objective on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus price target of $185.87.

Insider Transactions at D.R. Horton

In related news, Director Barbara K. Allen sold 5,650 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $163.10, for a total value of $921,515.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.74% 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.