D.R. Horton, Inc. (NYSE:DHI) Holdings Increased by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in D.R. Horton, Inc. (NYSE:DHI) by 829.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 68,085 shares of the construction company’s stock after acquiring an additional 60,762 shares during the period. Intech Investment Management LLC’s holdings in D.R. Horton were worth $9,595,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bfsg LLC lifted its position 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 purchasing an additional 74 shares during the period. Rise Advisors LLC acquired a new stake in shares of D.R. Horton in the first quarter valued at $27,000. RiverPark Advisors LLC bought a new position in D.R. Horton during the first quarter valued at about $29,000. Riverview Trust Co acquired a new position in D.R. Horton during the first quarter worth about $30,000. Finally, Signature Resources Capital Management LLC bought a new stake in D.R. Horton in the second quarter worth about $31,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DHI has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price objective 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. JMP Securities boosted their target price on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, UBS Group upped their target price on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Price Performance

NYSE DHI opened at $191.91 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The firm has a market capitalization of $63.20 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. The company has a 50 day simple moving average of $180.71 and a 200-day simple moving average of $159.35. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter last year, the business posted $3.90 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

D.R. Horton announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.