Cullen Frost Bankers Inc. Acquires 2,317 Shares of D.R. Horton, Inc. (NYSE:DHI)

Cullen Frost Bankers Inc. raised its position in D.R. Horton, Inc. (NYSE:DHI) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,142 shares of the construction company’s stock after acquiring an additional 2,317 shares during the period. Cullen Frost Bankers Inc.’s holdings in D.R. Horton were worth $15,804,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC raised its holdings in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after acquiring an additional 74 shares in the last quarter. Rise Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at approximately $29,000. Riverview Trust Co acquired a new position in shares of D.R. Horton in the 1st quarter worth approximately $30,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of D.R. Horton in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Trading Up 1.3 %

D.R. Horton stock traded up $2.42 during mid-day trading on Friday, hitting $186.14. 2,657,378 shares of the company’s stock were exchanged, compared to its average volume of 2,512,501. The firm has a market capitalization of $61.30 billion, a P/E ratio of 12.67, a PEG ratio of 0.87 and a beta of 1.73. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $193.63. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The company’s 50 day simple moving average is $170.26 and its 200-day simple moving average is $156.25.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the business posted $3.90 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio is 8.17%.

D.R. Horton announced that its board has initiated a share repurchase plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DHI shares. Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Bank of America increased their target price on D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and a consensus target price of $182.07.

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.