Mirae Asset Global Investments Co. Ltd. Makes New Investment in D.R. Horton, Inc. $DHI

Key Points

• Mirae Asset Global Investments opened a new D.R. Horton position, buying 76,307 shares worth approximately $10.4 million in the third quarter. Institutional investors and hedge funds collectively own 90.63% of the stock.
• Analyst sentiment is broadly cautious: MarketBeat’s consensus rating is Hold, with an average price target of $151.33. Several firms lowered their targets, while Goldman Sachs maintained a Buy rating.
• D.R. Horton’s latest quarter showed mixed results: earnings per share of $2.67 missed estimates, while revenue of $9.37 billion exceeded forecasts but fell 3.2% year over year. The company raised its quarterly dividend from $0.45 to $0.50 per share.

Mirae Asset Global Investments Co. Ltd. purchased a new position in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 76,307 shares of the construction company's stock, valued at approximately $10,427,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. raised its stake in shares of D.R. Horton by 12.3% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,676 shares of the construction company's stock valued at $639,000 after purchasing an additional 513 shares in the last quarter. Unison Advisors LLC grew its stake in D.R. Horton by 0.3% in the third quarter. Unison Advisors LLC now owns 39,398 shares of the construction company's stock worth $5,384,000 after purchasing an additional 115 shares in the last quarter. Greatmark Investment Partners Inc. acquired a new position in D.R. Horton in the third quarter worth about $228,000. Verdence Capital Advisors LLC increased its holdings in D.R. Horton by 12.7% in the third quarter. Verdence Capital Advisors LLC now owns 18,513 shares of the construction company's stock valued at $2,530,000 after buying an additional 2,086 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in D.R. Horton by 38.1% in the third quarter. Flagship Harbor Advisors LLC now owns 4,012 shares of the construction company's stock valued at $548,000 after buying an additional 1,107 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on DHI. Weiss Ratings cut D.R. Horton from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday. The Goldman Sachs Group reiterated a "buy" rating and issued a $182.00 target price (down from $190.00) on shares of D.R. Horton in a research report on Monday, October 12th. Keefe, Bruyette & Woods lowered their price target on D.R. Horton from $160.00 to $152.00 in a report on Thursday, October 22nd. Wells Fargo & Company dropped their price target on D.R. Horton from $145.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Friday, October 16th. Finally, Morgan Stanley reduced their price objective on D.R. Horton from $151.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, D.R. Horton presently has an average rating of "Hold" and an average price target of $151.33.

D.R. Horton Trading Up 8.2%

NYSE DHI opened at $157.12 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 6.01. D.R. Horton, Inc. has a one year low of $130.40 and a one year high of $170.79. The company has a 50-day simple moving average of $140.89 and a 200-day simple moving average of $147.57. The firm has a market capitalization of $43.95 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.34). D.R. Horton had a return on equity of 11.93% and a net margin of 8.74%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.07 billion. During the same quarter last year, the company earned $3.04 EPS. D.R. Horton's revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that D.R. Horton, Inc. will post 10.92 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. This is a boost from D.R. Horton's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, November 12th. D.R. Horton's dividend payout ratio is currently 17.75%.

D.R. Horton Company Profile

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company's operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.