4,243,760 Shares in D.R. Horton, Inc. (NYSE:DHI) Bought by Norges Bank

Norges Bank purchased a new stake in D.R. Horton, Inc. (NYSE:DHI) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,243,760 shares of the construction company’s stock, valued at approximately $593,363,000.

Several other hedge funds also recently added to or reduced their stakes in DHI. Principal Financial Group Inc. lifted its position in D.R. Horton by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock worth $339,174,000 after acquiring an additional 120,892 shares in the last quarter. Avestar Capital LLC acquired a new position in shares of D.R. Horton during the third quarter worth $229,000. Townsquare Capital LLC boosted its stake in shares of D.R. Horton by 36.5% in the third quarter. Townsquare Capital LLC now owns 7,698 shares of the construction company’s stock valued at $1,469,000 after purchasing an additional 2,057 shares during the period. Glenmede Trust Co. NA grew its holdings in D.R. Horton by 2.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,206 shares of the construction company’s stock valued at $1,947,000 after purchasing an additional 262 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in D.R. Horton during the 3rd quarter worth $4,617,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Trading Down 3.2 %

Shares of DHI stock opened at $125.87 on Friday. The firm has a market capitalization of $39.66 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.54 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 6.92. D.R. Horton, Inc. has a 1 year low of $124.23 and a 1 year high of $199.85. The stock has a fifty day moving average of $132.91 and a two-hundred day moving average of $155.24.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The firm had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the firm posted $2.82 EPS. D.R. Horton’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.27%. D.R. Horton’s payout ratio is 11.31%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DHI shares. JPMorgan Chase & Co. cut shares of D.R. Horton from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $188.00 to $156.00 in a research report on Friday, December 13th. Keefe, Bruyette & Woods downgraded D.R. Horton from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $200.00 to $183.00 in a report on Tuesday, December 10th. StockNews.com raised D.R. Horton from a “sell” rating to a “hold” rating in a research report on Saturday, January 25th. Barclays reduced their target price on D.R. Horton from $150.00 to $145.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, Citigroup dropped their price target on shares of D.R. Horton from $185.00 to $152.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $170.93.

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.