Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 128,874 D.R. Horton, Inc. $DHI

Key Points

• Munich Reinsurance initiated a position in D.R. Horton, purchasing 128,874 shares valued at approximately $21.0 million. Institutional investors collectively own 90.63% of the homebuilder’s stock.
• D.R. Horton reported quarterly EPS of $3.20, exceeding the $3.02 consensus estimate, while revenue reached $9.23 billion. The company declared a quarterly dividend of $0.45, equivalent to a 1.3% annualized yield.
• DHI shares traded at $142.81, down 1.1%, while analysts maintained a consensus “Hold” rating and an average price target of $166.92.

Munich Reinsurance Co Stock Corp in Munich bought a new position in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 128,874 shares of the construction company's stock, valued at approximately $20,991,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position in shares of D.R. Horton by 23.4% during the first quarter. Integrated Wealth Concepts LLC now owns 4,229 shares of the construction company's stock valued at $538,000 after acquiring an additional 803 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 455 shares during the last quarter. Sivia Capital Partners LLC bought a new position in D.R. Horton in the 2nd 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 boosted its stake in D.R. Horton by 8.9% during the 2nd quarter. Cerity Partners LLC now owns 34,926 shares of the construction company's stock valued at $4,503,000 after purchasing an additional 2,859 shares during the last quarter. Institutional investors own 90.63% of the company's stock.

D.R. Horton Trading Down 1.1%

Shares of NYSE:DHI opened at $142.81 on Friday. The stock's 50-day simple moving average is $149.13 and its two-hundred day simple moving average is $148.84. The stock has a market capitalization of $39.94 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.29 and a beta of 1.37. D.R. Horton, Inc. has a 52-week low of $131.75 and a 52-week high of $184.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 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 firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the firm earned $3.36 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Analysts expect that D.R. Horton, Inc. will post 10.46 EPS for the current year.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a $0.45 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.80 annualized dividend and a yield of 1.3%. D.R. Horton's dividend payout ratio (DPR) is presently 17.13%.

Analyst Upgrades and Downgrades

DHI has been the subject of several recent analyst reports. Weiss Ratings upgraded D.R. Horton from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 20th. BTIG Research set a $184.00 price objective on D.R. Horton in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on 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. The Goldman Sachs Group reissued a "buy" rating on shares of D.R. Horton in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company lowered their target price 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 analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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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