Wolverine Asset Management LLC Buys New Shares in D.R. Horton, Inc. (NYSE:DHI)

Wolverine Asset Management LLC purchased a new position in D.R. Horton, Inc. (NYSE:DHI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,000 shares of the construction company’s stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DHI. Entropy Technologies LP acquired a new stake in shares of D.R. Horton in the first quarter worth approximately $1,193,000. Beacon Investment Advisory Services Inc. acquired a new position in D.R. Horton in the first quarter valued at $288,000. Blair William & Co. IL grew its position in D.R. Horton by 0.6% during the first quarter. Blair William & Co. IL now owns 37,310 shares of the construction company’s stock valued at $6,139,000 after acquiring an additional 230 shares during the period. Orion Portfolio Solutions LLC increased its stake in D.R. Horton by 9.2% during the first quarter. Orion Portfolio Solutions LLC now owns 26,461 shares of the construction company’s stock worth $4,354,000 after acquiring an additional 2,237 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of D.R. Horton in the 1st quarter worth about $280,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

Shares of DHI stock opened at $161.13 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32. The stock has a market capitalization of $52.50 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a one year low of $125.28 and a one year high of $199.85. The company’s 50-day simple moving average is $183.75 and its 200-day simple moving average is $166.72.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.25). The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 EPS. Equities analysts anticipate that D.R. Horton, Inc. will post 14.92 earnings per share for the current fiscal year.

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

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is presently 11.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JMP Securities increased their target price 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. Raymond James downgraded shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Citigroup decreased their target price on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, BTIG Research reduced their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $185.87.

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.