Freemont Management S.A. Makes New Investment in D.R. Horton, Inc. (NYSE:DHI)

Freemont Management S.A. purchased a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 8,000 shares of the construction company’s stock, valued at approximately $1,526,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DHI. Bfsg LLC increased its position in shares of D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at $31,000. Rakuten Securities Inc. grew its holdings in shares of D.R. Horton by 216.7% during the 3rd quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after purchasing an additional 196 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DHI. Bank of America increased their target price on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company dropped their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Citigroup decreased their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $185.87.

D.R. Horton Stock Performance

Shares of DHI opened at $161.13 on Thursday. D.R. Horton, Inc. has a 52 week low of $125.28 and a 52 week high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $183.75 and its 200-day moving average price is $166.72. The stock has a market cap of $52.50 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.57 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (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 analysts’ expectations of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.45 earnings per share. Equities research 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 of Directors has initiated a share repurchase plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

D.R. Horton Increases Dividend

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

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.