Oppenheimer Asset Management Inc. Has $4.88 Million Stake in D.R. Horton, Inc. (NYSE:DHI)

Oppenheimer Asset Management Inc. lifted its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 25,578 shares of the construction company’s stock after purchasing an additional 168 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in D.R. Horton were worth $4,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. GHE LLC boosted its stake in shares of D.R. Horton by 9.3% in the 3rd quarter. GHE LLC now owns 20,064 shares of the construction company’s stock valued at $3,502,000 after purchasing an additional 1,705 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in D.R. Horton by 2.4% in the third quarter. Chase Investment Counsel Corp now owns 8,400 shares of the construction company’s stock valued at $1,602,000 after buying an additional 200 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in D.R. Horton by 6.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,105 shares of the construction company’s stock valued at $1,165,000 after acquiring an additional 379 shares during the last quarter. Rakuten Securities Inc. grew its holdings in D.R. Horton by 216.7% during the 3rd quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock worth $33,000 after acquiring an additional 117 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of D.R. Horton by 0.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 755,702 shares of the construction company’s stock valued at $144,165,000 after acquiring an additional 2,904 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

DHI has been the topic of several recent research reports. BTIG Research reduced their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Citigroup reduced their target price on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their price target on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group reduced their price objective on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Evercore ISI lowered their target price on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.87.

D.R. Horton Stock Performance

DHI opened at $163.81 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. The company has a market capitalization of $53.38 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. The business has a fifty day simple moving average of $183.29 and a 200 day simple moving average of $166.68. D.R. Horton, Inc. has a 1 year low of $125.28 and a 1 year high of $199.85.

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

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s payout ratio is presently 11.14%.

D.R. Horton declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally 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.