Wedge Capital Management L L P NC Acquires 7,583 Shares of D.R. Horton, Inc. (NYSE:DHI)

Wedge Capital Management L L P NC lifted its stake in D.R. Horton, Inc. (NYSE:DHI) by 2.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 279,079 shares of the construction company’s stock after acquiring an additional 7,583 shares during the period. Wedge Capital Management L L P NC’s holdings in D.R. Horton were worth $39,331,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Voss Capital LLC bought a new stake in D.R. Horton during the fourth quarter worth about $7,599,000. Handelsbanken Fonder AB raised its stake in shares of D.R. Horton by 20.5% during the fourth quarter. Handelsbanken Fonder AB now owns 97,275 shares of the construction company’s stock worth $14,784,000 after buying an additional 16,573 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in D.R. Horton in the first quarter valued at approximately $1,249,000. Vinva Investment Management Ltd grew its holdings in D.R. Horton by 59.3% during the 4th quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock worth $12,537,000 after acquiring an additional 30,186 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of D.R. Horton by 85.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after acquiring an additional 16,252 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DHI shares. JMP Securities raised their target price 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. JPMorgan Chase & Co. lifted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. Finally, Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and cut their price objective for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $175.60.

D.R. Horton Stock Up 0.6 %

Shares of NYSE DHI traded up $1.05 during trading on Thursday, hitting $175.26. 1,702,054 shares of the company traded hands, compared to its average volume of 2,565,398. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The business’s fifty day moving average is $155.52 and its 200 day moving average is $151.48. The firm has a market capitalization of $57.72 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.83 and a beta of 1.71. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $185.43.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (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 analysts’ expectations of $9.61 billion. During the same period last year, the company earned $3.90 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that D.R. Horton, Inc. will post 14.04 earnings per share for the current fiscal year.

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

D.R. Horton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

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.