Nippon Life Global Investors Americas Inc. Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Nippon Life Global Investors Americas Inc. trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 34.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,510 shares of the construction company’s stock after selling 14,170 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in D.R. Horton were worth $3,877,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in D.R. Horton during the first quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in shares of D.R. Horton during the first quarter worth $29,000. Bfsg LLC lifted its holdings in shares of D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Riverview Trust Co purchased a new position in D.R. Horton during the 1st quarter worth $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in D.R. Horton in the second quarter valued at about $31,000. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Stock Performance

DHI opened at $191.89 on Monday. The firm has a fifty day moving average price of $180.71 and a 200 day moving average price of $159.46. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85. The stock has a market cap of $63.19 billion, a P/E ratio of 13.06, 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 current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion for 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%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.90 EPS. Equities research analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton declared that its Board of Directors has approved a share repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are usually 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. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on DHI shares. JMP Securities increased their price objective on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Evercore ISI lifted their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Bank of America boosted their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Two 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’s stock. Based on data from MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and a consensus target price of $183.33.

D.R. Horton 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.