D.R. Horton, Inc. (NYSE:DHI) Position Increased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 25.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 60,014 shares of the construction company’s stock after purchasing an additional 12,253 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in D.R. Horton were worth $8,458,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in D.R. Horton in the 4th quarter worth approximately $516,530,000. Vanguard Group Inc. boosted its stake in 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 during the period. Assenagon Asset Management S.A. boosted its stake in shares of D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after buying an additional 987,834 shares during the period. Long Pond Capital LP boosted its stake in shares of D.R. Horton by 438.6% during the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of D.R. Horton by 62.4% during 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 valued at $207,864,000 after buying an additional 525,705 shares during the period. 90.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DHI shares. Bank of America lifted their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. JMP Securities lifted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $175.60.

D.R. Horton Price Performance

Shares of DHI traded up $6.05 during mid-day trading on Friday, reaching $191.79. The company had a trading volume of 3,421,777 shares, compared to its average volume of 2,556,429. The company’s 50 day simple moving average is $161.17 and its 200 day simple moving average is $153.29. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $192.41. 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 company has a market capitalization of $63.16 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.83 and a beta of 1.71.

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 the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.90 EPS. Analysts expect that D.R. Horton, Inc. will post 14.04 EPS for the current year.

D.R. Horton announced that its Board of Directors has initiated a share buyback plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

D.R. Horton Dividend Announcement

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

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.