Bank of Marin Invests $339,000 in D.R. Horton, Inc. (NYSE:DHI)

Bank of Marin acquired a new position in D.R. Horton, Inc. (NYSE:DHI) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,777 shares of the construction company’s stock, valued at approximately $339,000.

A number of other hedge funds have also bought and sold shares of DHI. Blair William & Co. IL raised its stake in shares of D.R. Horton by 0.6% during the 1st quarter. Blair William & Co. IL now owns 37,310 shares of the construction company’s stock valued at $6,139,000 after purchasing an additional 230 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of D.R. Horton by 9.2% during the first quarter. Orion Portfolio Solutions LLC now owns 26,461 shares of the construction company’s stock valued at $4,354,000 after buying an additional 2,237 shares during the period. Intech Investment Management LLC purchased a new stake in shares of D.R. Horton in the first quarter worth about $1,205,000. Vanguard Group Inc. boosted its position in shares of 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 valued at $5,735,620,000 after acquiring an additional 2,474,262 shares during the period. Finally, Acadian Asset Management LLC grew its stake in D.R. Horton by 7.9% during the first quarter. Acadian Asset Management LLC now owns 251,271 shares of the construction company’s stock valued at $41,334,000 after acquiring an additional 18,337 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DHI. Royal Bank of Canada lowered their target price on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research note 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 report on Wednesday, October 30th. BTIG Research lowered their target price on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Raymond James lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Finally, JMP Securities lifted their price objective on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.87.

D.R. Horton Stock Performance

NYSE DHI traded down $2.26 on Friday, reaching $161.48. 252,205 shares of the stock were exchanged, compared to its average volume of 2,507,533. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a one year low of $125.28 and a one year high of $199.85. The company’s 50-day simple moving average is $182.89 and its two-hundred day simple moving average is $166.66. The firm has a market capitalization of $52.62 billion, a PE ratio of 11.25, a PEG ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.25). The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $4.45 EPS. Analysts expect that D.R. Horton, Inc. will post 14.92 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.40 per share. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. D.R. Horton’s payout ratio is 11.14%.

D.R. Horton declared that its board has approved a stock 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 reacquire 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 stock is 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.