Mackenzie Financial Corp Raises Stake in D.R. Horton, Inc. (NYSE:DHI)

Mackenzie Financial Corp increased its stake in D.R. Horton, Inc. (NYSE:DHI) by 42.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 137,194 shares of the construction company’s stock after buying an additional 41,034 shares during the quarter. Mackenzie Financial Corp’s holdings in D.R. Horton were worth $19,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of D.R. Horton by 39.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,663 shares of the construction company’s stock valued at $1,317,000 after buying an additional 2,442 shares during the period. TD Asset Management Inc boosted its stake in D.R. Horton by 8.5% in the fourth quarter. TD Asset Management Inc now owns 174,241 shares of the construction company’s stock worth $26,481,000 after buying an additional 13,602 shares in the last quarter. Stifel Financial Corp boosted its stake in D.R. Horton by 18.1% in the fourth quarter. Stifel Financial Corp now owns 94,924 shares of the construction company’s stock worth $14,429,000 after buying an additional 14,573 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in D.R. Horton in the fourth quarter worth approximately $316,000. Finally, KBC Group NV boosted its stake in shares of D.R. Horton by 15.6% during the fourth quarter. KBC Group NV now owns 23,258 shares of the construction company’s stock valued at $3,534,000 after purchasing an additional 3,134 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Trading Up 1.2 %

D.R. Horton stock opened at $190.35 on Monday. 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 one year low of $100.08 and a one year high of $199.85. The stock has a market capitalization of $62.68 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73. The business’s fifty day moving average is $183.35 and its 200 day moving average is $160.72.

D.R. Horton (NYSE:DHI) last announced its 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 analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $3.90 earnings per share. On average, sell-side analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton declared that its board 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on DHI. UBS Group increased their price objective on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Barclays increased their price objective on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Evercore ISI increased their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. JMP Securities increased their price objective on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price objective on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $183.33.

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.