Lyell Wealth Management LP Acquires 5,740 Shares of D.R. Horton, Inc. (NYSE:DHI)

Lyell Wealth Management LP increased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,717 shares of the construction company’s stock after purchasing an additional 5,740 shares during the quarter. D.R. Horton makes up about 1.4% of Lyell Wealth Management LP’s holdings, making the stock its 19th biggest position. Lyell Wealth Management LP’s holdings in D.R. Horton were worth $15,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DHI. Avantax Advisory Services Inc. boosted its holdings in D.R. Horton by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,476 shares of the construction company’s stock worth $528,000 after purchasing an additional 357 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in D.R. Horton by 24.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock worth $4,978,000 after purchasing an additional 6,429 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in D.R. Horton during the fourth quarter worth about $657,000. Private Wealth Management Group LLC purchased a new position in D.R. Horton during the fourth quarter worth about $42,000. Finally, Level Four Advisory Services LLC boosted its stake in D.R. Horton by 20.0% in the fourth quarter. Level Four Advisory Services LLC now owns 2,455 shares of the construction company’s stock valued at $373,000 after acquiring an additional 409 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. UBS Group boosted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and dropped their target price for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, D.R. Horton presently has a consensus rating of “Hold” and a consensus target price of $182.07.

D.R. Horton Stock Performance

D.R. Horton stock opened at $194.80 on Friday. The firm’s 50 day simple moving average is $175.54 and its 200 day simple moving average is $157.86. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $63.47 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $195.00.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.90 EPS. As a group, analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton declared that its Board of Directors has approved a share buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase 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.