Bank of Nova Scotia Buys New Stake in D.R. Horton, Inc. $DHI

Key Points

• Bank of Nova Scotia acquired 63,571 shares of D.R. Horton during the second quarter, valued at approximately $10.35 million. Institutional investors collectively own 90.63% of the company.
• D.R. Horton exceeded quarterly expectations, reporting EPS of $3.20 versus the $3.02 consensus and revenue of $9.23 billion versus $9.10 billion expected.
• DHI recently paid a quarterly dividend of $0.45 per share, equal to an annualized $1.80 payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $166.92.

Bank of Nova Scotia purchased a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 63,571 shares of the construction company's stock, valued at approximately $10,354,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DHI. Capital World Investors lifted its stake in shares of D.R. Horton by 22.1% during the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock worth $5,321,849,000 after acquiring an additional 6,695,592 shares during the last quarter. BlackRock Inc. bought a new position in shares of D.R. Horton during the second quarter valued at approximately $4,067,842,000. Capital Research Global Investors increased its holdings in shares of D.R. Horton by 0.3% in the 4th quarter. Capital Research Global Investors now owns 4,647,088 shares of the construction company's stock valued at $669,330,000 after acquiring an additional 13,155 shares during the period. Norges Bank purchased a new stake in shares of D.R. Horton during the fourth quarter valued at about $649,305,000. Finally, Morgan Stanley boosted its stake in D.R. Horton by 1.9% in the fourth quarter. Morgan Stanley now owns 3,684,724 shares of the construction company's stock valued at $530,711,000 after acquiring an additional 67,578 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

DHI stock opened at $149.04 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 6.43 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $151.68 and a 200 day moving average price of $149.72. The stock has a market cap of $41.69 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.35 and a beta of 1.37. D.R. Horton, Inc. has a fifty-two week low of $131.75 and a fifty-two week high of $184.54.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 earnings per share (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 company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm posted $3.36 earnings per share. D.R. Horton's revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that D.R. Horton, Inc. will post 10.47 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on D.R. Horton from $140.00 to $141.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Keefe, Bruyette & Woods dropped their target price on shares of D.R. Horton from $175.00 to $167.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Citigroup restated a "neutral" rating on shares of D.R. Horton in a research report on Wednesday, July 22nd. The Goldman Sachs Group restated a "buy" rating on shares of D.R. Horton in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada restated a "mixed" rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, D.R. Horton presently has an average rating of "Hold" and a consensus target price of $166.92.

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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