24,068 Shares in D.R. Horton, Inc. $DHI Acquired by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners acquired 24,068 shares of D.R. Horton worth approximately $3.92 million, while institutional investors collectively own 90.63% of the homebuilder.
• D.R. Horton beat quarterly expectations, reporting $3.20 in EPS versus the $3.02 consensus and revenue of $9.23 billion versus $9.10 billion expected.
• The company maintains a quarterly dividend of $0.45 per share, equivalent to a 1.2% annualized yield. Analysts remain cautious overall, with a consensus “Hold” rating and an average price target of $166.92.

Elevation Point Wealth Partners LLC acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,068 shares of the construction company's stock, valued at approximately $3,920,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in D.R. Horton in the second quarter worth $4,067,842,000. Capital World Investors lifted its stake in D.R. Horton by 22.1% in the fourth quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock valued at $5,321,849,000 after buying an additional 6,695,592 shares during the last quarter. Norges Bank acquired a new position in shares of D.R. Horton during the fourth quarter valued at $649,305,000. Bank of New York Mellon Corp bought a new position in shares of D.R. Horton during the second quarter worth about $294,292,000. Finally, Boston Partners bought a new position in shares of D.R. Horton during the third quarter worth about $274,784,000. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Price Performance

Shares of DHI opened at $148.43 on Friday. D.R. Horton, Inc. has a one year low of $131.75 and a one year high of $184.54. The stock's fifty day moving average is $151.80 and its 200-day moving average is $149.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. The firm has a market capitalization of $41.52 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.18. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.10 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.36 earnings per share. Equities analysts anticipate that D.R. Horton, Inc. will post 10.47 EPS for the current year.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 6th. D.R. Horton's payout ratio is 17.13%.

Analyst Ratings Changes

A number of research firms recently weighed in on DHI. Barclays increased their price objective on shares of D.R. Horton from $140.00 to $141.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. The Goldman Sachs Group restated a "buy" rating on shares of D.R. Horton in a research report on Tuesday, July 21st. Wells Fargo & Company dropped their price target on shares of D.R. Horton from $170.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Zelman & Associates upgraded shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a research note on Tuesday, July 7th. Finally, Citigroup reaffirmed a "neutral" rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $166.92.

D.R. Horton Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company's core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.

Want to see what other hedge funds are holding DHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for D.R. Horton, Inc. (NYSE:DHI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source