Burney Co. Boosts Holdings in D.R. Horton, Inc. (NYSE:DHI)

Burney Co. raised its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 16.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,024 shares of the construction company’s stock after acquiring an additional 694 shares during the period. Burney Co.’s holdings in D.R. Horton were worth $708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DHI. Norges Bank purchased a new stake in shares of D.R. Horton during the 4th quarter worth approximately $516,530,000. Vanguard Group Inc. raised its stake in D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in D.R. Horton by 1,761.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares during the last quarter. Long Pond Capital LP grew its stake in shares of D.R. Horton by 438.6% in the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after buying an additional 537,276 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of 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 buying an additional 525,705 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on DHI shares. Royal Bank of Canada lifted 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. Bank of America increased their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Evercore ISI increased their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Barclays upped their target price on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and an average price target of $182.07.

D.R. Horton Stock Performance

Shares of DHI stock remained flat at $187.57 during mid-day trading on Thursday. The stock had a trading volume of 597,088 shares, compared to its average volume of 2,530,768. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $193.63. The company has a market cap of $61.77 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $164.01 and a two-hundred day moving average of $154.27.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion during 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 period last year, the firm posted $3.90 EPS. On average, analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton announced that its board has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

D.R. Horton Announces Dividend

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

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.