Envestnet Asset Management Inc. Boosts Position in D.R. Horton, Inc. (NYSE:DHI)

Envestnet Asset Management Inc. raised its stake in D.R. Horton, Inc. (NYSE:DHI) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,016,705 shares of the construction company’s stock after purchasing an additional 63,785 shares during the period. Envestnet Asset Management Inc. owned 0.31% of D.R. Horton worth $143,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of D.R. Horton by 7.6% in 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 purchasing an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of D.R. Horton by 2.3% in the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after acquiring an additional 81,900 shares during the period. Norges Bank purchased a new position in shares of D.R. Horton during the fourth quarter worth approximately $516,530,000. Franklin Resources Inc. increased its holdings in shares of D.R. Horton by 12.5% in the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock valued at $356,454,000 after acquiring an additional 260,864 shares during the period. Finally, Earnest Partners LLC raised its position in D.R. Horton by 10.6% in the 1st quarter. Earnest Partners LLC now owns 2,055,012 shares of the construction company’s stock valued at $338,152,000 after purchasing an additional 196,748 shares during the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Price Performance

NYSE DHI opened at $194.60 on Tuesday. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $196.72. The stock has a market capitalization of $64.08 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.86 and a beta of 1.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The business’s fifty day moving average is $176.71 and its two-hundred day moving average is $158.26.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share 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 company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the business posted $3.90 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts forecast that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

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

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.62%. D.R. Horton’s payout ratio is 8.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Bank of America raised their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. UBS Group lifted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Evercore ISI increased their price target on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Barclays lifted their price objective on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, StockNews.com downgraded D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton has an average rating of “Hold” and an average price target of $182.07.

D.R. Horton Company Profile

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.