Pacific Wealth Strategies Group Inc. Raises Holdings in D.R. Horton, Inc. (NYSE:DHI)

Pacific Wealth Strategies Group Inc. boosted its stake in D.R. Horton, Inc. (NYSE:DHI) by 14.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,189 shares of the construction company’s stock after acquiring an additional 644 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in D.R. Horton were worth $990,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DHI. Vanguard Group Inc. raised its stake in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. grew its stake in D.R. Horton by 2.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after acquiring an additional 81,900 shares during the period. Earnest Partners LLC raised its holdings in D.R. Horton by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after acquiring an additional 9,137 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of D.R. Horton by 51.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after purchasing an additional 561,337 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DHI. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Bank of America upped their price objective on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. JMP Securities lifted their target price on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company decreased their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $185.33.

D.R. Horton Price Performance

Shares of NYSE:DHI opened at $169.00 on Friday. The company has a quick ratio of 1.30, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $186.95 and a 200 day simple moving average of $165.18. D.R. Horton, Inc. has a fifty-two week low of $102.23 and a fifty-two week high of $199.85. The company has a market cap of $55.07 billion, a PE ratio of 11.77, a P/E/G ratio of 0.57 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). The company had revenue of $10 billion during 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 business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 earnings per share. On average, sell-side analysts anticipate that D.R. Horton, Inc. will post 15.87 EPS for the current year.

D.R. Horton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. D.R. Horton’s payout ratio is currently 8.36%.

D.R. Horton declared that its Board of Directors has approved a share repurchase plan on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.