Hobbs Group Advisors LLC Acquires Shares of 300 D.R. Horton, Inc. (NYSE:DHI)

Hobbs Group Advisors LLC bought a new position in shares of D.R. Horton, Inc. (NYSE:DHI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 300 shares of the construction company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC bought a new position in shares of D.R. Horton during the first quarter worth about $27,000. RiverPark Advisors LLC bought a new position in shares of D.R. Horton during the first quarter worth about $29,000. Riverview Trust Co bought a new position in shares of D.R. Horton during the first quarter worth about $30,000. Signature Resources Capital Management LLC bought a new position in shares of D.R. Horton during the second quarter worth about $31,000. Finally, Private Wealth Management Group LLC acquired a new stake in D.R. Horton during the fourth quarter worth approximately $42,000. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Price Performance

D.R. Horton stock traded up $5.23 during midday trading on Wednesday, hitting $184.84. 988,555 shares of the company’s stock were exchanged, compared to its average volume of 2,542,439. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $186.43. The stock has a 50-day moving average price of $158.49 and a two-hundred day moving average price of $152.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The company has a market cap of $60.87 billion, a P/E ratio of 12.23, a PEG ratio of 0.83 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the business earned $3.90 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton declared that its board has authorized a share repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Barclays raised their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Finally, JMP Securities lifted their price target on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $175.60.

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.