The Manufacturers Life Insurance Company Invests $60.67 Million in D.R. Horton, Inc. $DHI

Key Points

• The Manufacturers Life Insurance Company acquired 372,512 D.R. Horton shares worth approximately $60.7 million, giving it a 0.13% stake. Institutional investors collectively own 90.63% of the homebuilder.
• D.R. Horton reported quarterly earnings of $3.20 per share, exceeding estimates of $3.02, while revenue reached $9.23 billion versus the $9.10 billion consensus forecast.
• The company pays a quarterly dividend of $0.45, equivalent to a $1.80 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $166.92.

The Manufacturers Life Insurance Company acquired a new position in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 372,512 shares of the construction company's stock, valued at approximately $60,675,000. The Manufacturers Life Insurance Company owned 0.13% of D.R. Horton at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Van Hulzen Asset Management LLC purchased a new position in D.R. Horton in the second quarter worth about $1,458,000. Fiduciary Financial Advisors purchased a new stake in shares of D.R. Horton during the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC purchased a new stake in shares of D.R. Horton during the 2nd quarter valued at about $417,000. L2 Asset Management LLC bought a new position in shares of D.R. Horton in the 2nd quarter worth approximately $237,000. Finally, Algert Global LLC purchased a new position in shares of D.R. Horton in the second quarter worth approximately $1,186,000. Institutional investors own 90.63% of the company's stock.

D.R. Horton Trading Up 1.3%

D.R. Horton stock opened at $150.91 on Wednesday. The firm has a 50 day moving average of $151.57 and a 200 day moving average of $149.67. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.36 and a beta of 1.37. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $184.54. The company has a current ratio of 6.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.18. The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.10 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.36 earnings per share. As a group, research analysts predict that D.R. Horton, Inc. will post 10.47 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.80 annualized dividend and a yield of 1.2%. D.R. Horton's dividend payout ratio is currently 17.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHI. Weiss Ratings upgraded shares of D.R. Horton from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Royal Bank Of Canada reiterated a "mixed" rating on shares of D.R. Horton in a research note on Wednesday, July 22nd. BTIG Research set a $184.00 price objective on shares of D.R. Horton in a research report on Wednesday, July 22nd. Citigroup restated a "neutral" rating on shares of D.R. Horton in a research note on Wednesday, July 22nd. Finally, Zelman & Associates raised D.R. Horton from a "neutral" rating to an "outperform" rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $166.92.

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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