Exchange Traded Concepts LLC Makes New $1.28 Million Investment in D.R. Horton, Inc. (NYSE:DHI)

Exchange Traded Concepts LLC bought a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,725 shares of the construction company’s stock, valued at approximately $1,283,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ritholtz Wealth Management boosted its position in D.R. Horton by 24.9% during the third quarter. Ritholtz Wealth Management now owns 2,240 shares of the construction company’s stock worth $427,000 after purchasing an additional 446 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of D.R. Horton by 32.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 23,603 shares of the construction company’s stock valued at $4,501,000 after buying an additional 5,771 shares in the last quarter. Worth Asset Management LLC acquired a new stake in D.R. Horton in the 3rd quarter valued at $232,000. Boston Common Asset Management LLC increased its holdings in D.R. Horton by 651.1% in the 3rd quarter. Boston Common Asset Management LLC now owns 49,323 shares of the construction company’s stock worth $9,409,000 after acquiring an additional 42,756 shares in the last quarter. Finally, Brendel Financial Advisors LLC acquired a new position in D.R. Horton during the third quarter worth $1,903,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 1.6 %

Shares of D.R. Horton stock opened at $192.38 on Thursday. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $199.85. 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 firm has a market capitalization of $63.35 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.78 and a beta of 1.72. The stock has a 50 day moving average of $186.42 and a 200 day moving average of $163.36.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the company earned $3.90 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict 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 stock repurchase program 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 programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

DHI has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Finally, UBS Group lifted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.67.

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.