Canada Pension Plan Investment Board Acquires 199,668 Shares of D.R. Horton, Inc. (NYSE:DHI)

Canada Pension Plan Investment Board boosted its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 92.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 415,968 shares of the construction company’s stock after acquiring an additional 199,668 shares during the quarter. Canada Pension Plan Investment Board’s holdings in D.R. Horton were worth $68,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHI. Rise Advisors LLC bought a new position in D.R. Horton during the first quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in D.R. Horton during the first quarter valued at approximately $29,000. Riverview Trust Co acquired a new position in D.R. Horton during the first quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in D.R. Horton during the fourth quarter valued at approximately $38,000. Finally, Private Wealth Management Group LLC acquired a new position in D.R. Horton during the fourth quarter valued at approximately $42,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Up 2.5 %

DHI opened at $176.94 on Friday. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $180.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The firm’s fifty day moving average price is $147.75 and its two-hundred day moving average price is $149.19. The company has a market capitalization of $57.65 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the previous year, the company earned $3.90 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that D.R. Horton, Inc. will post 14.45 EPS for the current year.

D.R. Horton declared that its Board of Directors has initiated a share buyback plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. D.R. Horton’s payout ratio is presently 8.17%.

Insider Buying and Selling at D.R. Horton

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the transaction, the director now directly owns 1,703 shares of the company’s stock, valued at $256,642.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DHI. StockNews.com downgraded D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. BTIG Research lowered their price target on D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Evercore ISI raised their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Citigroup downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $175.60.

D.R. Horton Profile

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.