Invesco Ltd. Acquires 472,382 Shares of D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Invesco Ltd. has increased its stake in D.R. Horton, Inc. by 23.1%, acquiring an additional 472,382 shares, resulting in a total ownership of 2,520,422 shares valued at approximately $320.4 million.
• A quarterly dividend of $0.40 per share has been announced, representing an annual yield of 1.0% based on the current stock price.
• Wall Street analysts have mixed views on D.R. Horton, with price targets ranging widely; the consensus average target price is currently $153.23.

Invesco Ltd. increased its holdings in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,520,422 shares of the construction company's stock after acquiring an additional 472,382 shares during the period. Invesco Ltd. owned about 0.82% of D.R. Horton worth $320,421,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Olde Wealth Management LLC purchased a new position in D.R. Horton in the first quarter valued at approximately $26,000. Bayforest Capital Ltd lifted its stake in D.R. Horton by 340.4% in the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after purchasing an additional 194 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in D.R. Horton in the fourth quarter valued at approximately $43,000. Alpine Bank Wealth Management purchased a new position in D.R. Horton in the first quarter valued at approximately $61,000. Finally, Continuum Advisory LLC lifted its stake in D.R. Horton by 25.8% in the fourth quarter. Continuum Advisory LLC now owns 487 shares of the construction company's stock valued at $68,000 after purchasing an additional 100 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their price objective on D.R. Horton from $105.00 to $117.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on D.R. Horton from $176.00 to $187.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. JMP Securities dropped their target price on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a research report on Monday, April 21st. Finally, Barclays dropped their target price on D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $153.23.

D.R. Horton Trading Down 0.9%

D.R. Horton stock opened at $155.09 on Tuesday. The stock has a market cap of $46.24 billion, a P/E ratio of 12.44, a PEG ratio of 3.32 and a beta of 1.34. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85. The firm's fifty day moving average price is $134.86 and its 200-day moving average price is $129.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 7.06.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.46. The firm had revenue of $9.23 billion for the quarter, compared to analysts' expectations of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The business's quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.10 earnings per share. Equities research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 7th. D.R. Horton's dividend payout ratio is currently 12.83%.

Insider Buying and Selling

In related news, Director Michael R. Buchanan sold 2,150 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total value of $274,555.00. Following the transaction, the director owned 2,193 shares of the company's stock, valued at $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

About D.R. Horton

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.

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