D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,282 shares of the construction company’s stock after selling 372 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in D.R. Horton were worth $1,308,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DHI. Vanguard Group Inc. boosted its position in shares of D.R. Horton by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after purchasing an additional 2,474,262 shares during the period. Greenhaven Associates Inc. grew its stake in shares of D.R. Horton by 2.3% in the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after buying an additional 81,900 shares in the last quarter. Norges Bank purchased a new stake in shares of D.R. Horton in the 4th quarter valued at $516,530,000. Franklin Resources Inc. lifted its stake in D.R. Horton by 12.5% during the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock worth $356,454,000 after acquiring an additional 260,864 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in D.R. Horton by 10.6% during the 1st quarter. Earnest Partners LLC now owns 2,055,012 shares of the construction company’s stock valued at $338,152,000 after acquiring an additional 196,748 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Up 3.2 %

DHI opened at $194.80 on Monday. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $195.00. 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 has a market capitalization of $64.15 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. The business’s 50-day simple moving average is $175.54 and its 200-day simple moving average is $157.94.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.90 earnings per share. Analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton announced that its Board of Directors has authorized a stock buyback 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.62%. D.R. Horton’s dividend payout ratio is presently 8.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on DHI. Royal Bank of Canada boosted their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Evercore ISI increased their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company boosted their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Keefe, Bruyette & Woods increased their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.07.

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.