TCI Wealth Advisors Inc. Purchases 58 Shares of D.R. Horton, Inc. (NYSE:DHI)

TCI Wealth Advisors Inc. boosted its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487 shares of the construction company’s stock after purchasing an additional 58 shares during the period. TCI Wealth Advisors Inc.’s holdings in D.R. Horton were worth $284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DHI. Concurrent Investment Advisors LLC acquired a new position in shares of D.R. Horton during the first quarter worth $1,249,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of D.R. Horton by 85.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after acquiring an additional 16,252 shares in the last quarter. Bessemer Group Inc. raised its position in shares of D.R. Horton by 107.6% in the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after acquiring an additional 7,699 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of D.R. Horton by 92.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after purchasing an additional 199,668 shares during the period. Finally, Concord Investment Counsel Inc. acquired a new stake in D.R. Horton during the first quarter worth approximately $4,161,000. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Stock Performance

Shares of NYSE:DHI traded down $0.24 during mid-day trading on Monday, reaching $179.00. The company had a trading volume of 604,844 shares, compared to its average volume of 2,422,657. The company’s 50-day moving average price is $187.89 and its 200-day moving average price is $164.80. D.R. Horton, Inc. has a one year low of $100.94 and a one year high of $199.85. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.78 and a beta of 1.72. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

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

Analysts Set New Price Targets

DHI has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company raised their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Evercore ISI boosted their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. 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. Finally, JMP Securities upped 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, D.R. Horton currently has an average rating of “Moderate Buy” and a consensus price target of $185.67.

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.