Bank of America Corp DE Purchases 312,303 Shares of D.R. Horton, Inc. $DHI

Key Points

• Bank of America increased its D.R. Horton stake by 10.7%, adding 312,303 shares to own 3.23 million shares valued at approximately $442.8 million. Institutional investors collectively hold 90.63% of the homebuilder’s stock.
• Analyst sentiment remains mixed, with five Buy ratings and ten Holds; the average price target is $168.17, while UBS raised its target to $206 and Zelman upgraded the stock to Outperform.
• D.R. Horton recently beat quarterly earnings and revenue estimates, reporting $3.20 in EPS and $9.23 billion in revenue. The company also declared a quarterly dividend of $0.45 per share, representing a 1.3% annualized yield.

Bank of America Corp DE grew its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,226,686 shares of the construction company's stock after acquiring an additional 312,303 shares during the period. Bank of America Corp DE owned 1.14% of D.R. Horton worth $442,766,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Capital World Investors increased its stake in shares of D.R. Horton by 22.1% in the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock valued at $5,321,849,000 after acquiring an additional 6,695,592 shares in the last quarter. Norges Bank acquired a new stake in D.R. Horton in the fourth quarter worth $649,305,000. Boston Partners bought a new stake in D.R. Horton in the third quarter valued at $274,784,000. Viking Global Investors LP raised its holdings in shares of D.R. Horton by 108.3% during the second quarter. Viking Global Investors LP now owns 2,827,032 shares of the construction company's stock valued at $364,461,000 after purchasing an additional 1,469,978 shares during the period. Finally, Amundi boosted its position in shares of D.R. Horton by 108.3% during the 1st quarter. Amundi now owns 1,602,945 shares of the construction company's stock worth $219,956,000 after purchasing an additional 833,359 shares in the last quarter. 90.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DHI has been the subject of a number of research analyst reports. Citigroup reaffirmed a "neutral" rating on shares of D.R. Horton in a research report on Wednesday, July 22nd. UBS Group boosted their price objective on D.R. Horton from $193.00 to $206.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Seaport Research Partners reaffirmed a "neutral" rating on shares of D.R. Horton in a research report on Tuesday, April 7th. Wells Fargo & Company lifted their price target on shares of D.R. Horton from $147.00 to $170.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. Finally, Zelman & Associates upgraded shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $168.17.

D.R. Horton Stock Down 1.5%

DHI opened at $143.36 on Friday. D.R. Horton, Inc. has a fifty-two week low of $131.75 and a fifty-two week high of $184.54. The firm has a market capitalization of $40.10 billion, a P/E ratio of 13.64, a PEG ratio of 2.27 and a beta of 1.36. The company's 50-day moving average is $151.49 and its 200 day moving average is $150.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.43 and a quick ratio of 1.04.

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

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 6th. D.R. Horton's dividend payout ratio (DPR) is 17.13%.

D.R. Horton Company 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.

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