BlackRock Inc. Takes $4.07 Billion Position in D.R. Horton, Inc. $DHI

Key Points

• BlackRock acquired 24.97 million D.R. Horton shares worth approximately $4.07 billion, giving it an 8.93% stake in the homebuilder.
• D.R. Horton reported quarterly earnings of $3.20 per share, exceeding the $3.02 analyst consensus, while revenue reached $9.23 billion. The company also maintains a quarterly dividend of $0.45 per share, yielding about 1.2% annually.
• Analysts have a consensus “Hold” rating on DHI, with an average price target of $166.92 versus a recent share price of $145.75.

BlackRock Inc. bought a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,974,471 shares of the construction company's stock, valued at approximately $4,067,842,000. BlackRock Inc. owned about 8.93% of D.R. Horton as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of D.R. Horton by 23.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,229 shares of the construction company's stock valued at $538,000 after purchasing an additional 803 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in D.R. Horton by 295.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 609 shares of the construction company's stock worth $77,000 after purchasing an additional 455 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of D.R. Horton during the second quarter valued at approximately $302,000. Brown Advisory Inc. boosted its stake in D.R. Horton by 3.4% during the 2nd quarter. Brown Advisory Inc. now owns 6,319 shares of the construction company's stock valued at $815,000 after purchasing an additional 208 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in D.R. Horton by 8.9% in the 2nd quarter. Cerity Partners LLC now owns 34,926 shares of the construction company's stock worth $4,503,000 after buying an additional 2,859 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

Shares of DHI opened at $145.75 on Wednesday. The company's fifty day moving average price is $151.94 and its 200-day moving average price is $149.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.43 and a quick ratio of 1.04. The firm has a market capitalization of $40.77 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.36 and a beta of 1.37. D.R. Horton, Inc. has a 1-year low of $131.75 and a 1-year high of $184.54.

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

D.R. Horton Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.2%. D.R. Horton's payout ratio is 17.13%.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased 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 research note on Wednesday, July 22nd. 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 research note on Tuesday, July 14th. UBS Group boosted their price target on D.R. Horton from $193.00 to $206.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. BTIG Research set a $184.00 price objective on D.R. Horton in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company decreased 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. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.

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