AEGON ASSET MANAGEMENT UK Plc Invests $11 Million in D.R. Horton, Inc. (NYSE:DHI)

AEGON ASSET MANAGEMENT UK Plc bought a new stake in D.R. Horton, Inc. (NYSE:DHI) during the third quarter, Holdings Channel.com reports. The fund bought 57,699 shares of the construction company’s stock, valued at approximately $11,003,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 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 purchasing an additional 74 shares in the last quarter. Signature Resources Capital Management LLC purchased a new position in D.R. Horton during the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC increased its position in D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after buying an additional 196 shares during the period. Grove Bank & Trust lifted its stake in D.R. Horton by 76.2% in the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after buying an additional 93 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of D.R. Horton in the second quarter valued at approximately $42,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Up 0.4 %

Shares of DHI opened at $168.79 on Friday. D.R. Horton, Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $199.85. The company’s fifty day moving average is $184.62 and its two-hundred day moving average is $166.17. The firm has a market cap of $55.00 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. D.R. Horton’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 EPS. Analysts forecast that D.R. Horton, Inc. will post 15.54 earnings per share for the current year.

D.R. Horton declared that its Board of Directors has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s payout ratio is 8.36%.

Analyst Upgrades and Downgrades

DHI has been the topic of a number of recent research reports. UBS Group cut their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America upped their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Barclays lowered their price target on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Raymond James downgraded D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $185.87.

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.