Arizona State Retirement System Has $12.20 Million Stake in D.R. Horton, Inc. (NYSE:DHI)

Arizona State Retirement System grew its position in D.R. Horton, Inc. (NYSE:DHI) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,577 shares of the construction company’s stock after purchasing an additional 524 shares during the period. Arizona State Retirement System’s holdings in D.R. Horton were worth $12,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of D.R. Horton by 15.2% during the 2nd quarter. Victory Capital Management Inc. now owns 400,742 shares of the construction company’s stock worth $56,477,000 after acquiring an additional 52,995 shares in the last quarter. Waverton Investment Management Ltd increased its stake in D.R. Horton by 47.3% in the 2nd quarter. Waverton Investment Management Ltd now owns 180,434 shares of the construction company’s stock valued at $25,411,000 after buying an additional 57,967 shares during the last quarter. TD Asset Management Inc lifted its position in D.R. Horton by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 153,658 shares of the construction company’s stock worth $21,655,000 after buying an additional 1,703 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of D.R. Horton by 7.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,757 shares of the construction company’s stock worth $671,000 after buying an additional 310 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in shares of D.R. Horton by 10.4% in the 2nd quarter. Foundations Investment Advisors LLC now owns 5,000 shares of the construction company’s stock valued at $705,000 after acquiring an additional 469 shares in the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Trading Up 1.3 %

Shares of DHI stock opened at $186.19 on Friday. 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, Inc. has a 1 year low of $100.08 and a 1 year high of $193.63. The company’s fifty day simple moving average is $170.26 and its two-hundred day simple moving average is $156.25. The stock has a market capitalization of $61.31 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.87 and a beta of 1.73.

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 the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.90 EPS. As a group, analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton announced that its board has authorized a stock repurchase program on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to reacquire 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.

D.R. Horton Dividend Announcement

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

Analyst Upgrades and Downgrades

DHI has been the subject of several research reports. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and cut their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price target on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Keefe, Bruyette & Woods raised their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, UBS Group lifted their price target on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” 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 given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $182.07.

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.