Oppenheimer Asset Management Inc. Increases Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Oppenheimer Asset Management Inc. increased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 49.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,410 shares of the construction company’s stock after buying an additional 8,386 shares during the period. Oppenheimer Asset Management Inc.’s holdings in D.R. Horton were worth $3,581,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DHI. Avantax Advisory Services Inc. lifted its stake in shares of D.R. Horton by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,476 shares of the construction company’s stock worth $528,000 after acquiring an additional 357 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in D.R. Horton by 24.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock worth $4,978,000 after purchasing an additional 6,429 shares during the last quarter. Level Four Advisory Services LLC raised its position in shares of D.R. Horton by 20.0% in the 4th quarter. Level Four Advisory Services LLC now owns 2,455 shares of the construction company’s stock valued at $373,000 after purchasing an additional 409 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of D.R. Horton by 12.0% during the 4th quarter. Brown Advisory Inc. now owns 5,461 shares of the construction company’s stock valued at $830,000 after buying an additional 587 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of D.R. Horton in the fourth quarter worth $516,530,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Trading Down 0.1 %

Shares of NYSE DHI opened at $194.60 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $196.72. The company has a market cap of $64.08 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.86 and a beta of 1.73. The business has a fifty day simple moving average of $176.71 and a 200-day simple moving average of $158.26.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period last year, the company posted $3.90 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton announced that its board has initiated a share repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. D.R. Horton’s dividend payout ratio is 8.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DHI. Barclays increased their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their price target on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. JMP Securities upped their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Evercore ISI lifted their target price on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada upped their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. Two equities research 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.07.

D.R. Horton 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.