Park Avenue Securities LLC Raises Holdings in D.R. Horton, Inc. (NYSE:DHI)

Park Avenue Securities LLC raised its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 10.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,056 shares of the construction company’s stock after buying an additional 2,767 shares during the quarter. Park Avenue Securities LLC’s holdings in D.R. Horton were worth $3,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DHI. Coastline Trust Co acquired a new stake in D.R. Horton during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. grew its stake in D.R. Horton by 216.7% during the third quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock worth $33,000 after buying an additional 117 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of D.R. Horton by 152.8% in the fourth quarter. Rosenberg Matthew Hamilton now owns 273 shares of the construction company’s stock worth $38,000 after acquiring an additional 165 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in shares of D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after acquiring an additional 196 shares during the period. Finally, Grove Bank & Trust lifted its holdings in shares of D.R. Horton by 76.2% during the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after acquiring an additional 93 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Price Performance

Shares of DHI opened at $146.61 on Friday. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The firm has a market cap of $47.04 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.51 and a beta of 1.75. D.R. Horton, Inc. has a 52 week low of $133.02 and a 52 week high of $199.85. The stock has a 50 day moving average of $152.70 and a 200-day moving average of $168.64.

D.R. Horton (NYSE:DHI) last released its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the firm earned $4.45 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were paid a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Tuesday, November 12th. D.R. Horton’s payout ratio is presently 11.14%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Evercore ISI cut their price objective on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Bank of America boosted their price target on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. downgraded shares of D.R. Horton from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $188.00 to $156.00 in a research report on Friday, December 13th. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $200.00 to $183.00 in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.20.

Insider Activity

In related news, Director Barbara K. Allen sold 5,650 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

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.