Fairtree Asset Management Pty Ltd Acquires New Stake in D.R. Horton, Inc. (NYSE:DHI)

Fairtree Asset Management Pty Ltd acquired a new stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,842 shares of the construction company's stock, valued at approximately $397,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DHI. Norges Bank purchased a new stake in D.R. Horton in the fourth quarter valued at approximately $593,363,000. Franklin Resources Inc. raised its stake in shares of D.R. Horton by 71.5% during the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock worth $499,774,000 after purchasing an additional 1,490,648 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of D.R. Horton by 1,838.0% during the fourth quarter. Two Sigma Investments LP now owns 877,644 shares of the construction company's stock worth $122,712,000 after purchasing an additional 832,358 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of D.R. Horton during the fourth quarter worth approximately $98,720,000. Finally, Renaissance Technologies LLC raised its stake in shares of D.R. Horton by 676.4% during the fourth quarter. Renaissance Technologies LLC now owns 756,538 shares of the construction company's stock worth $105,779,000 after purchasing an additional 659,100 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company's stock.

D.R. Horton Price Performance

D.R. Horton stock traded down $0.32 during trading hours on Friday, hitting $117.95. The stock had a trading volume of 4,305,130 shares, compared to its average volume of 3,019,151. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.92 and a quick ratio of 1.09. The stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 0.54 and a beta of 1.45. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The stock's fifty day moving average is $122.99 and its two-hundred day moving average is $135.90.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.11). The firm had revenue of $7.73 billion during the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. During the same period last year, the company posted $3.52 EPS. As a group, analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton's payout ratio is currently 12.11%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DHI shares. The Goldman Sachs Group cut their price target on D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen upgraded D.R. Horton from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods cut their price target on D.R. Horton from $165.00 to $135.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their price objective on D.R. Horton from $125.00 to $105.00 and set an "underperform" rating on the stock in a report on Monday, April 21st. Finally, BTIG Research dropped their price objective on D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, D.R. Horton presently has a consensus rating of "Hold" and a consensus price target of $151.15.

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.