Graypoint LLC Has $733,000 Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Graypoint LLC increased its stake in D.R. Horton, Inc. (NYSE:DHI) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,843 shares of the construction company’s stock after buying an additional 400 shares during the quarter. Graypoint LLC’s holdings in D.R. Horton were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DHI. Norden Group LLC acquired a new stake in D.R. Horton during the 1st quarter valued at $449,000. Manchester Capital Management LLC boosted its holdings in shares of D.R. Horton by 631.9% during the 1st quarter. Manchester Capital Management LLC now owns 849 shares of the construction company’s stock worth $140,000 after buying an additional 733 shares during the period. Advisory Services Network LLC grew its stake in D.R. Horton by 35.2% in the 1st quarter. Advisory Services Network LLC now owns 24,725 shares of the construction company’s stock valued at $4,069,000 after buying an additional 6,435 shares during the last quarter. Quantbot Technologies LP bought a new position in D.R. Horton in the 1st quarter valued at about $2,009,000. Finally, Forsta AP Fonden grew its position in shares of D.R. Horton by 8.8% in the first quarter. Forsta AP Fonden now owns 59,200 shares of the construction company’s stock valued at $9,741,000 after purchasing an additional 4,800 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective on the stock in a research note on Tuesday, October 15th. BTIG Research dropped their target price on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Bank of America lifted their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their target price on D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, D.R. Horton has an average rating of “Hold” and an average price target of $185.87.

D.R. Horton Price Performance

Shares of NYSE:DHI opened at $168.11 on Friday. The firm has a market cap of $54.78 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 52 week low of $120.10 and a 52 week high of $199.85. The firm’s fifty day moving average is $185.40 and its 200-day moving average is $165.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.45 EPS. Sell-side analysts predict that D.R. Horton, Inc. will post 15.64 earnings per share for the current 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 issued a $0.40 dividend. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is currently 8.36%.

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