Rakuten Securities Inc. Purchases 117 Shares of D.R. Horton, Inc. (NYSE:DHI)

Rakuten Securities Inc. boosted its position in D.R. Horton, Inc. (NYSE:DHI) by 216.7% during the third quarter, HoldingsChannel.com reports. The fund owned 171 shares of the construction company’s stock after buying an additional 117 shares during the quarter. Rakuten Securities Inc.’s holdings in D.R. Horton were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Legacy CG LLC bought a new position in shares of D.R. Horton in the 3rd quarter valued at $4,220,000. Bessemer Group Inc. grew its position in D.R. Horton by 107.6% in the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after acquiring an additional 7,699 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in D.R. Horton by 92.3% during the first quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after acquiring an additional 199,668 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of D.R. Horton by 10.3% in the second quarter. DNB Asset Management AS now owns 50,605 shares of the construction company’s stock worth $7,132,000 after acquiring an additional 4,723 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in shares of D.R. Horton by 36.1% in the 1st quarter. Atria Investments Inc now owns 61,729 shares of the construction company’s stock valued at $10,157,000 after purchasing an additional 16,386 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Down 3.1 %

D.R. Horton stock opened at $161.86 on Wednesday. The firm has a market cap of $52.74 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 52-week low of $121.16 and a 52-week high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32. The firm has a 50 day moving average price of $184.20 and a two-hundred day moving average price of $166.61.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.45 EPS. Equities analysts predict that D.R. Horton, Inc. will post 15.01 EPS for the current year.

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

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a dividend of $0.40 per share. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. D.R. Horton’s dividend payout ratio is presently 11.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DHI shares. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. Royal Bank of Canada lowered their price target on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Raymond James cut D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. UBS Group reduced their price objective on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.87.

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.