Principal Financial Group Inc. Boosts Stake in D.R. Horton, Inc. $DHI

Key Points

• Principal Financial Group increased its stake in D.R. Horton by 2.3% in the first quarter, ending with 2.16 million shares valued at about $295.8 million. Institutional ownership remains high, with about 90.6% of the stock held by institutions.
• Analysts were mostly cautious but slightly more positive on D.R. Horton, with several firms raising price targets. The consensus rating is Hold, and the average target price is $168.62.
• D.R. Horton reported quarterly EPS of $2.24, topping estimates, while revenue came in roughly in line at $7.56 billion. The company also paid a $0.45 quarterly dividend, equal to a 1.2% annualized yield.

Principal Financial Group Inc. increased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,155,581 shares of the construction company's stock after purchasing an additional 48,723 shares during the quarter. Principal Financial Group Inc. owned 0.76% of D.R. Horton worth $295,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Core Wealth Advisors LLC purchased a new position in shares of D.R. Horton during the fourth quarter valued at approximately $25,000. Osbon Capital Management LLC purchased a new stake in D.R. Horton in the fourth quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new stake in D.R. Horton in the fourth quarter worth approximately $27,000. Elevated Capital Advisors LLC bought a new stake in D.R. Horton in the 4th quarter worth approximately $27,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in D.R. Horton during the 4th quarter valued at $30,000. 90.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DHI has been the topic of several research reports. Wells Fargo & Company raised their target price on D.R. Horton from $147.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group raised their price objective on shares of D.R. Horton from $172.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Zacks Research raised shares of D.R. Horton from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. UBS Group lifted their price target on shares of D.R. Horton from $193.00 to $206.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Finally, Truist Financial raised their target price on D.R. Horton from $140.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $168.62.

D.R. Horton Stock Up 0.6%

Shares of DHI stock opened at $149.77 on Wednesday. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.08 and a beta of 1.36. D.R. Horton, Inc. has a one year low of $129.11 and a one year high of $184.54. The company's fifty day moving average price is $150.29 and its 200-day moving average price is $150.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.46 and a quick ratio of 0.97.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, April 21st. The construction company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. D.R. Horton had a net margin of 9.51% and a return on equity of 12.94%. The company had revenue of $7.56 billion during the quarter, compared to the consensus estimate of $7.55 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. D.R. Horton's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts expect that D.R. Horton, Inc. will post 10.6 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.2%. D.R. Horton's dividend payout ratio is 16.87%.

About D.R. Horton

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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