Rakuten Securities Inc. Has $33,000 Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Rakuten Securities Inc. grew its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 216.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 171 shares of the construction company’s stock after acquiring an additional 117 shares during the quarter. Rakuten Securities Inc.’s holdings in D.R. Horton were worth $33,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DHI. Sumitomo Mitsui Trust Group Inc. boosted its holdings in D.R. Horton by 0.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 755,702 shares of the construction company’s stock worth $144,165,000 after purchasing an additional 2,904 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of D.R. Horton during the 3rd quarter worth about $955,000. Waverton Investment Management Ltd grew its holdings in shares of D.R. Horton by 10.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 199,999 shares of the construction company’s stock valued at $38,145,000 after acquiring an additional 19,565 shares in the last quarter. Harbour Investments Inc. increased its position in shares of D.R. Horton by 409.5% in the third quarter. Harbour Investments Inc. now owns 1,014 shares of the construction company’s stock valued at $193,000 after acquiring an additional 815 shares during the last quarter. Finally, Core Wealth Partners LLC bought a new stake in D.R. Horton during the third quarter worth about $234,000. 90.63% of the stock is owned by institutional investors.

D.R. Horton Trading Down 3.1 %

DHI stock opened at $161.86 on Wednesday. D.R. Horton, Inc. has a 52 week low of $121.16 and a 52 week high of $199.85. The company has a market capitalization of $52.74 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. The company’s 50-day simple moving average is $184.20 and its 200 day simple moving average is $166.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the previous year, the company earned $4.45 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that D.R. Horton, Inc. will post 15.01 earnings per share for the current year.

D.R. Horton announced that its board has initiated a stock repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 11.14%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JMP Securities boosted their price target on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Evercore ISI lowered their price objective on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Royal Bank of Canada dropped their price objective on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $185.87.

About D.R. Horton

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.