Redwood Investment Management LLC Increases Holdings in D.R. Horton, Inc. (NYSE:DHI)

Redwood Investment Management LLC raised its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,638 shares of the construction company’s stock after buying an additional 362 shares during the period. Redwood Investment Management LLC’s holdings in D.R. Horton were worth $1,586,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price objective on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Jefferies Financial Group upped their target price on shares of D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Wedbush reaffirmed an “underperform” rating and issued a $130.00 target price on shares of D.R. Horton in a report on Thursday, April 18th. BTIG Research dropped their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Finally, UBS Group upped their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $175.60.

Insider Activity at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the sale, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.74% of the stock is owned by insiders.

D.R. Horton Trading Down 0.3 %

Shares of NYSE:DHI traded down $0.50 during trading on Wednesday, reaching $179.94. The company’s stock had a trading volume of 3,137,126 shares, compared to its average volume of 2,576,689. The company has a current ratio of 7.22, a quick ratio of 1.30 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 $185.43. The firm’s 50 day simple moving average is $149.65 and its two-hundred day simple moving average is $149.72. The stock has a market capitalization of $58.63 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.80 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the firm earned $3.90 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts predict that D.R. Horton, Inc. will post 14.47 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

D.R. Horton declared that its Board of Directors has approved a share buyback program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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.