Baker Avenue Asset Management LP Invests $8.41 Million in D.R. Horton, Inc. $DHI

Baker Avenue Asset Management LP bought a new position in D.R. Horton, Inc. (NYSE:DHI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 65,232 shares of the construction company’s stock, valued at approximately $8,410,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in D.R. Horton in the 2nd quarter worth $29,000. Bayforest Capital Ltd grew its position in D.R. Horton by 340.4% during the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company’s stock worth $32,000 after buying an additional 194 shares in the last quarter. Accredited Wealth Management LLC bought a new position in D.R. Horton during the first quarter valued at about $34,000. Hantz Financial Services Inc. raised its holdings in D.R. Horton by 1,678.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 338 shares of the construction company’s stock valued at $44,000 after acquiring an additional 319 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of D.R. Horton in the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wall Street Analyst Weigh In

DHI has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on shares of D.R. Horton from $117.00 to $118.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on D.R. Horton from $178.00 to $175.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 29th. Bank of America dropped their target price on D.R. Horton from $175.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, October 10th. Evercore ISI set a $169.00 price target on D.R. Horton and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of D.R. Horton in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of “Hold” and an average price target of $160.15.

D.R. Horton Price Performance

NYSE DHI opened at $158.59 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.18 and a current ratio of 6.48. The stock has a market cap of $46.32 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.89 and a beta of 1.38. The business has a 50 day simple moving average of $153.75 and a 200 day simple moving average of $148.98. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $184.54.

D.R. Horton (NYSE:DHI) last released its earnings results on Tuesday, October 28th. The construction company reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.25). D.R. Horton had a net margin of 10.47% and a return on equity of 14.39%. The company had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.44 billion. During the same period in the prior year, the firm posted $3.92 EPS. D.R. Horton’s revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 1.1%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.40. D.R. Horton’s payout ratio is 15.53%.

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.