Mountaineer Partners Management LLC Invests $1.85 Billion in D.R. Horton, Inc. (NYSE:DHI)

Mountaineer Partners Management LLC bought a new stake in D.R. Horton, Inc. (NYSE:DHI) in the third quarter, Holdings Channel.com reports. The institutional investor bought 9,714,199 shares of the construction company’s stock, valued at approximately $1,853,178,000. D.R. Horton makes up approximately 15.4% of Mountaineer Partners Management LLC’s portfolio, making the stock its 3rd biggest position.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of D.R. Horton by 44.7% during the third quarter. FMR LLC now owns 7,906,129 shares of the construction company’s stock valued at $1,508,252,000 after acquiring an additional 2,442,581 shares in the last quarter. Assenagon Asset Management S.A. grew its position in D.R. Horton by 1,761.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares during the period. Principal Financial Group Inc. raised its holdings in D.R. Horton by 51.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after buying an additional 561,337 shares during the last quarter. Banque Pictet & Cie SA lifted its stake in shares of D.R. Horton by 592.4% in the second quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company’s stock valued at $56,784,000 after buying an additional 344,731 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new position in shares of D.R. Horton during the second quarter valued at about $37,613,000. 90.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total value of $921,515.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.74% of the stock is currently owned by insiders.

D.R. Horton Trading Down 0.3 %

NYSE DHI opened at $166.87 on Wednesday. The stock’s 50-day simple moving average is $176.26 and its two-hundred day simple moving average is $168.50. D.R. Horton, Inc. has a twelve month low of $129.35 and a twelve month high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $53.59 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.61 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the prior year, the company earned $4.45 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts forecast that D.R. Horton, Inc. will post 14.26 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is presently 11.14%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research note on Tuesday, October 15th. Raymond James downgraded D.R. Horton from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Citigroup dropped their price objective on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. UBS Group lowered their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Bank of America upped their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and a consensus target price 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.