AEGON ASSET MANAGEMENT UK Plc Invests $11 Million in D.R. Horton, Inc. (NYSE:DHI)

AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 57,699 shares of the construction company’s stock, valued at approximately $11,003,000.

Other hedge funds also recently bought and sold shares of the company. Bfsg LLC boosted its position in shares of D.R. Horton by 70.5% during 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 during the last quarter. Wolff Wiese Magana LLC boosted its holdings in D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after purchasing an additional 196 shares during the last quarter. Grove Bank & Trust grew its stake in shares of D.R. Horton by 76.2% in the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after buying an additional 93 shares during the period. Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of D.R. Horton during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analysts Set New Price Targets

DHI has been the subject of several analyst reports. Royal Bank of Canada lowered their price objective on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. UBS Group cut 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. Bank of America upped their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Citigroup dropped their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Raymond James cut shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $185.87.

D.R. Horton Price Performance

DHI stock opened at $168.79 on Friday. The business’s 50-day moving average is $184.62 and its two-hundred day moving average is $166.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. The firm has a market capitalization of $55.00 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.56 and a beta of 1.74. D.R. Horton, Inc. has a 1 year low of $120.10 and a 1 year high of $199.85.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period last year, the business earned $4.45 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Analysts anticipate that D.R. Horton, Inc. will post 15.54 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s payout ratio is presently 8.36%.

D.R. Horton announced that its Board of Directors has initiated a share buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.