Park National Corp OH Acquires 14,589 Shares of D.R. Horton, Inc. (NYSE:DHI)

Park National Corp OH boosted its stake in D.R. Horton, Inc. (NYSE:DHI) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,167 shares of the construction company’s stock after buying an additional 14,589 shares during the quarter. D.R. Horton makes up 1.2% of Park National Corp OH’s investment portfolio, making the stock its 24th largest holding. Park National Corp OH owned 0.07% of D.R. Horton worth $31,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of D.R. Horton during the 4th quarter valued at about $516,530,000. Vanguard Group Inc. lifted its position in D.R. Horton by 7.6% in the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares during the last quarter. Long Pond Capital LP lifted its position in D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after purchasing an additional 537,276 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in D.R. Horton by 62.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after purchasing an additional 525,705 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in D.R. Horton by 295.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 544,992 shares of the construction company’s stock valued at $89,678,000 after purchasing an additional 407,076 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Trading Down 0.5 %

Shares of DHI traded down $0.95 during midday trading on Monday, hitting $172.02. 2,069,737 shares of the stock were exchanged, compared to its average volume of 2,582,726. The firm has a market cap of $56.65 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $185.43. The stock has a fifty day simple moving average of $153.83 and a 200 day simple moving average of $150.86.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter last year, the company posted $3.90 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, research analysts anticipate that D.R. Horton, Inc. will post 14.04 EPS for the current fiscal year.

D.R. Horton declared that its board has authorized a share repurchase plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.70%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays upped their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Jefferies Financial Group upped their target price on D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a report on Friday, April 19th. BTIG Research decreased their target price on D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Bank of America upped their target price on D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Wedbush reissued an “underperform” rating and issued a $130.00 target price on shares of D.R. Horton in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, D.R. Horton currently has an average rating of “Hold” and an average price target of $175.60.

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.