Meritage Portfolio Management Buys New Holdings in D.R. Horton, Inc. (NYSE:DHI)

Meritage Portfolio Management acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,078 shares of the construction company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCI Wealth Advisors Inc. raised its stake in D.R. Horton by 4.1% during the third quarter. TCI Wealth Advisors Inc. now owns 1,487 shares of the construction company’s stock valued at $284,000 after purchasing an additional 58 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in D.R. Horton by 1.0% in the second quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after acquiring an additional 59 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in D.R. Horton by 1.2% during the second quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock worth $739,000 after acquiring an additional 60 shares during the last quarter. Whittier Trust Co. raised its position in D.R. Horton by 1.7% during the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after purchasing an additional 63 shares during the period. Finally, Values First Advisors Inc. lifted its stake in shares of D.R. Horton by 0.7% in the 2nd quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock valued at $1,251,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. UBS Group lowered their target price on D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. BTIG Research cut their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a report on Tuesday, October 15th. Finally, Citigroup lowered their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. One equities research 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. According to MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $185.87.

D.R. Horton Trading Down 0.8 %

D.R. Horton stock opened at $167.51 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32. The stock has a market cap of $54.58 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. The stock has a 50-day moving average of $184.62 and a two-hundred day moving average of $166.44. D.R. Horton, Inc. has a one year low of $121.16 and a one year high of $199.85.

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

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio is presently 11.14%.

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

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.