Frank Rimerman Advisors LLC Takes $211,000 Position in D.R. Horton, Inc. (NYSE:DHI)

Frank Rimerman Advisors LLC purchased a new position in shares of D.R. Horton, Inc. (NYSE:DHI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,499 shares of the construction company’s stock, valued at approximately $211,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 worth $5,735,620,000 after acquiring an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. boosted its position in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after purchasing an additional 81,900 shares during the period. Earnest Partners LLC increased its holdings in shares of D.R. Horton by 10.6% in the first 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. Principal Financial Group Inc. raised its position in shares of D.R. Horton by 51.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of D.R. Horton by 62.4% during 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. 90.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DHI has been the topic of several research analyst reports. JMP Securities increased their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Barclays lifted their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. 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, September 19th. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $183.33.

D.R. Horton Stock Performance

NYSE DHI opened at $187.21 on Thursday. The firm’s 50 day simple moving average is $182.13 and its 200 day simple moving average is $160.00. The firm has a market capitalization of $61.65 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.89 and a beta of 1.73. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the business posted $3.90 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

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

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.