Assenagon Asset Management S.A. Boosts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Assenagon Asset Management S.A. grew its stake in D.R. Horton, Inc. (NYSE:DHI) by 1,761.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,043,909 shares of the construction company’s stock after purchasing an additional 987,834 shares during the quarter. Assenagon Asset Management S.A.’s holdings in D.R. Horton were worth $147,118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DHI. Norges Bank bought a new position in D.R. Horton in the 4th quarter worth about $516,530,000. Vanguard Group Inc. raised its holdings in D.R. Horton by 7.6% in the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Long Pond Capital LP lifted its stake in shares of D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after buying an additional 537,276 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of D.R. Horton by 62.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after buying an additional 525,705 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of D.R. Horton by 295.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 544,992 shares of the construction company’s stock valued at $89,678,000 after acquiring an additional 407,076 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on DHI shares. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. StockNews.com lowered D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Bank of America upped their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Finally, Evercore ISI increased their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $175.60.

D.R. Horton Stock Performance

Shares of D.R. Horton stock traded up $2.73 on Friday, hitting $178.02. 1,994,473 shares of the company’s stock were exchanged, compared to its average volume of 2,561,845. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $185.43. The company has a 50-day simple moving average of $156.91 and a 200-day simple moving average of $151.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The stock has a market capitalization of $58.62 billion, a PE ratio of 12.12, a PEG ratio of 0.83 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period last year, the firm earned $3.90 EPS. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that D.R. Horton, Inc. will post 14.04 EPS for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

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

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.