D.R. Horton, Inc. (NYSE:DHI) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in D.R. Horton, Inc. (NYSE:DHI) by 6.9% in the 3rd quarter, Holdings Channel reports. The firm owned 44,326 shares of the construction company’s stock after purchasing an additional 2,842 shares during the period. CIBC Asset Management Inc’s holdings in D.R. Horton were worth $8,456,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DHI. Bfsg LLC increased its holdings in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Signature Resources Capital Management LLC acquired a new stake in D.R. Horton in the 2nd quarter valued at approximately $31,000. Rakuten Securities Inc. grew its stake in shares of D.R. Horton by 216.7% in the third quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock worth $33,000 after acquiring an additional 117 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of 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 worth $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DHI shares. Raymond James downgraded shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price target on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. BTIG Research dropped their price target on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research note on Tuesday, October 15th. Finally, 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 for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $185.87.

D.R. Horton Stock Performance

NYSE DHI opened at $161.61 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. D.R. Horton, Inc. has a 1 year low of $125.28 and a 1 year high of $199.85. The company has a market capitalization of $52.66 billion, a PE ratio of 11.25, a P/E/G ratio of 0.56 and a beta of 1.74. The company has a fifty day moving average of $182.40 and a two-hundred day moving average of $166.94.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (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 company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the company earned $4.45 EPS. The business’s revenue was down 4.7% on a year-over-year basis. As a group, analysts expect that D.R. Horton, Inc. will post 14.92 earnings per share for the current year.

D.R. Horton Increases Dividend

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

D.R. Horton 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.