William B. Walkup & Associates Inc. Invests $2.40 Million in D.R. Horton, Inc. (NYSE:DHI)

William B. Walkup & Associates Inc. acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 17,000 shares of the construction company’s stock, valued at approximately $2,396,000. D.R. Horton makes up 1.6% of William B. Walkup & Associates Inc.’s portfolio, making the stock its 18th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of D.R. Horton by 7.6% in 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 buying an additional 2,474,262 shares during the period. Assenagon Asset Management S.A. grew its holdings in D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after acquiring an additional 987,834 shares during the last quarter. Principal Financial Group Inc. increased its position in D.R. Horton by 51.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after acquiring an additional 561,337 shares during the period. Long Pond Capital LP raised its stake in shares of D.R. Horton by 438.6% during the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after acquiring an additional 537,276 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of D.R. Horton by 62.4% during the fourth 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 purchasing an additional 525,705 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analysts Set New Price Targets

DHI has been the subject of several analyst reports. Wells Fargo & Company raised their target price on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI lifted their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Barclays upped their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JMP Securities boosted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, D.R. Horton presently has an average rating of “Hold” and an average target price of $183.33.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $190.35 on Monday. 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 firm’s 50-day moving average price is $183.35 and its 200-day moving average price is $160.72. The firm has a market capitalization of $62.68 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.89 and a beta of 1.73. 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 announced its quarterly 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 return on equity of 20.72% and a net margin of 13.36%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.90 earnings per share. Equities research analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio is currently 8.17%.

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

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.