Principal Financial Group Inc. Has $339.17 Million Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Principal Financial Group Inc. lifted its holdings in D.R. Horton, Inc. (NYSE:DHI) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,777,920 shares of the construction company’s stock after buying an additional 120,892 shares during the period. Principal Financial Group Inc. owned about 0.55% of D.R. Horton worth $339,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bfsg LLC boosted its position in shares of D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after buying an additional 74 shares during the period. Signature Resources Capital Management LLC acquired a new stake in shares of D.R. Horton in the second quarter worth $31,000. Wolff Wiese Magana LLC boosted its position in shares of D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after buying an additional 196 shares during the period. Grove Bank & Trust boosted its position in shares of D.R. Horton by 76.2% in the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after buying an additional 93 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in D.R. Horton during the second quarter valued at $42,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Trading Down 3.8 %

D.R. Horton stock opened at $166.70 on Thursday. 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 business’s 50-day simple moving average is $185.40 and its 200-day simple moving average is $165.98. The firm has a market capitalization of $54.32 billion, a PE ratio of 11.61, a PEG ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 52 week low of $118.07 and a 52 week high of $199.85.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the firm posted $4.45 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts forecast that D.R. Horton, Inc. will post 15.64 earnings per share for the current year.

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

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.96%. 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. D.R. Horton’s payout ratio is currently 8.36%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DHI shares. UBS Group reduced their price objective on D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Evercore ISI reduced their price objective on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada cut their target price on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.87.

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.