Conning Inc. Raises Stake in D.R. Horton, Inc. (NYSE:DHI)

Conning Inc. lifted its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 51.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,480 shares of the construction company’s stock after acquiring an additional 1,181 shares during the period. Conning Inc.’s holdings in D.R. Horton were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DHI. RiverPark Advisors LLC purchased a new position in D.R. Horton during the first quarter worth about $29,000. Bfsg LLC raised 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 buying an additional 74 shares during the period. Wolff Wiese Magana LLC lifted its holdings in 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 valued at $40,000 after acquiring an additional 196 shares during the last quarter. Grove Bank & Trust grew its position in 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 acquiring an additional 93 shares during the period. Finally, Signature Resources Capital Management LLC acquired a new stake in D.R. Horton during the second quarter worth $31,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Performance

NYSE DHI opened at $167.64 on Monday. The stock has a market capitalization of $54.62 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.56 and a beta of 1.74. The business’s 50 day moving average is $186.47 and its two-hundred day moving average is $165.58. D.R. Horton, Inc. has a 12-month low of $111.59 and a 12-month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share 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 for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the company earned $4.45 EPS. The company’s revenue was down 4.7% on a year-over-year basis. Research analysts expect that D.R. Horton, Inc. will post 15.74 EPS for the current year.

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

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is currently 8.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DHI shares. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a report on Tuesday, October 15th. Royal Bank of Canada lowered their price target 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. Evercore ISI cut their target price on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Citigroup decreased 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 note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $185.33.

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.