Victory Capital Management Inc. Acquires 52,995 Shares of D.R. Horton, Inc. (NYSE:DHI)

Victory Capital Management Inc. lifted its stake in D.R. Horton, Inc. (NYSE:DHI) by 15.2% during the second quarter, HoldingsChannel reports. The firm owned 400,742 shares of the construction company’s stock after purchasing an additional 52,995 shares during the period. Victory Capital Management Inc.’s holdings in D.R. Horton were worth $56,477,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Waverton Investment Management Ltd grew its stake in D.R. Horton by 47.3% in the 2nd quarter. Waverton Investment Management Ltd now owns 180,434 shares of the construction company’s stock worth $25,411,000 after acquiring an additional 57,967 shares in the last quarter. TD Asset Management Inc grew its stake in D.R. Horton by 1.1% in the second quarter. TD Asset Management Inc now owns 153,658 shares of the construction company’s stock worth $21,655,000 after purchasing an additional 1,703 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in D.R. Horton by 7.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,757 shares of the construction company’s stock worth $671,000 after purchasing an additional 310 shares during the period. Foundations Investment Advisors LLC raised its position in D.R. Horton by 10.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 5,000 shares of the construction company’s stock valued at $705,000 after purchasing an additional 469 shares in the last quarter. Finally, Weaver Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter worth $339,000. 90.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DHI shares. UBS Group lifted their price objective on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com cut shares of D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and cut their price objective for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. JPMorgan Chase & Co. upped their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their target price on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.07.

D.R. Horton Price Performance

Shares of DHI stock opened at $186.14 on Monday. The firm has a market capitalization of $61.30 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.87 and a beta of 1.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The stock’s 50-day simple moving average is $170.26 and its 200-day simple moving average is $156.42. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $193.63.

D.R. Horton (NYSE:DHI) last issued its quarterly 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. The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.90 EPS. As a group, equities analysts forecast that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.64%. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

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.