Advisors Asset Management Inc. Purchases 352 Shares of D.R. Horton, Inc. (NYSE:DHI)

Advisors Asset Management Inc. raised its position in D.R. Horton, Inc. (NYSE:DHI) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,081 shares of the construction company’s stock after acquiring an additional 352 shares during the quarter. Advisors Asset Management Inc.’s holdings in D.R. Horton were worth $3,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of DHI. Norges Bank purchased a new position in shares of D.R. Horton in the fourth quarter worth approximately $516,530,000. Vanguard Group Inc. grew 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 valued at $5,735,620,000 after acquiring an additional 2,474,262 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in D.R. Horton by 62.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock worth $207,864,000 after purchasing an additional 525,705 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in D.R. Horton by 295.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 544,992 shares of the construction company’s stock valued at $89,678,000 after purchasing an additional 407,076 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in D.R. Horton by 1,719.1% during the fourth quarter. Panagora Asset Management Inc. now owns 429,445 shares of the construction company’s stock valued at $65,267,000 after purchasing an additional 405,838 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Trading Up 2.5 %

Shares of D.R. Horton stock traded up $4.29 during trading on Friday, hitting $176.99. The stock had a trading volume of 3,353,359 shares, compared to its average volume of 2,584,058. The stock has a market cap of $57.71 billion, a PE ratio of 11.76, a PEG ratio of 0.77 and a beta of 1.71. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $180.15. The firm’s fifty day simple moving average is $147.24 and its 200-day simple moving average is $149.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.35. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the business earned $3.90 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that D.R. Horton, Inc. will post 14.44 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s payout ratio is presently 8.17%.

D.R. Horton announced that its board has authorized a share repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and cut their target price for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Evercore ISI upped their price target on 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 boosted their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Finally, Bank of America lifted their price target on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $175.60.

Insider Buying and Selling

In other news, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now owns 1,703 shares of the company’s stock, valued at $256,642.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.74% of the stock is currently owned by insiders.

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.