Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in D.R. Horton, Inc. (NYSE:DHI)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in D.R. Horton, Inc. (NYSE:DHI) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,983 shares of the construction company’s stock after purchasing an additional 2,460 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in D.R. Horton were worth $7,246,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bfsg LLC increased its position in shares of D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after acquiring an additional 74 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of D.R. Horton during the first quarter worth about $27,000. RiverPark Advisors LLC purchased a new stake in shares of D.R. Horton during the first quarter worth about $29,000. Riverview Trust Co purchased a new stake in shares of D.R. Horton during the first quarter worth about $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton during the second quarter worth about $31,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DHI has been the topic of a number of analyst reports. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research note on Tuesday. Wells Fargo & Company lifted their price target 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. JPMorgan Chase & Co. lifted their price target 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. Finally, UBS Group lifted their price target on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, D.R. Horton presently has an average rating of “Moderate Buy” and an average target price of $185.67.

D.R. Horton Stock Performance

Shares of DHI stock opened at $194.56 on Friday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $187.21 and a two-hundred day moving average of $163.78. The company has a market cap of $64.07 billion, a P/E ratio of 13.24, a PEG ratio of 0.78 and a beta of 1.72. 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 quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.90 earnings per share. As a group, 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 approved a stock buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are usually 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.