Norges Bank Makes New $239.48 Million Investment in D.R. Horton, Inc. (NYSE:DHI)


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Norges Bank purchased a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,474,748 shares of the construction company’s stock, valued at approximately $239,480,000. Norges Bank owned 0.96% of D.R. Horton at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC purchased a new position in D.R. Horton during the fourth quarter valued at approximately $79,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in D.R. Horton by 13.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,777 shares of the construction company’s stock valued at $1,019,000 after acquiring an additional 1,700 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of D.R. Horton by 16.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,907,033 shares of the construction company’s stock valued at $131,433,000 after acquiring an additional 275,803 shares during the period. RMR Wealth Builders bought a new position in shares of D.R. Horton in the 4th quarter worth $41,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of D.R. Horton by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,942,943 shares of the construction company’s stock worth $409,648,000 after purchasing an additional 142,526 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

NYSE DHI opened at $92.17 on Thursday. D.R. Horton, Inc. has a 1 year low of $36.79 and a 1 year high of $94.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.70 and a quick ratio of 1.82. The company has a market capitalization of $33.52 billion, a PE ratio of 14.36, a P/E/G ratio of 0.67 and a beta of 1.70. The company has a fifty day moving average of $82.74 and a 200 day moving average of $75.81.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Monday, January 25th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.42. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.57 billion. D.R. Horton had a return on equity of 20.67% and a net margin of 11.69%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Research analysts expect that D.R. Horton, Inc. will post 8.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Wednesday, February 17th were given a $0.20 dividend. The ex-dividend date was Tuesday, February 16th. This represents a $0.80 annualized dividend and a yield of 0.87%. D.R. Horton’s dividend payout ratio is presently 12.99%.

In other D.R. Horton news, Director Barbara K. Allen sold 4,000 shares of D.R. Horton stock in a transaction on Thursday, January 28th. The shares were sold at an average price of $74.52, for a total value of $298,080.00. Following the completion of the transaction, the director now owns 5,650 shares of the company’s stock, valued at $421,038. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Aron M. Odom sold 5,500 shares of the company’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $81.96, for a total transaction of $450,780.00. Following the completion of the transaction, the vice president now owns 4,645 shares of the company’s stock, valued at approximately $380,704.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,419 shares of company stock worth $1,499,876. Insiders own 0.46% of the company’s stock.

A number of equities analysts have commented on DHI shares. KeyCorp boosted their target price on shares of D.R. Horton from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, March 31st. Royal Bank of Canada boosted their price objective on shares of D.R. Horton from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 27th. Credit Suisse Group raised their target price on shares of D.R. Horton from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 27th. Janney Montgomery Scott initiated coverage on D.R. Horton in a research report on Thursday, January 21st. They set a “neutral” rating on the stock. Finally, Wolfe Research began coverage on D.R. Horton in a research report on Monday, March 22nd. They issued an “outperform” rating and a $94.00 price objective for the company. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $85.95.

D.R. Horton Company Profile

D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 29 states and 88 markets under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, and Freedom Homes.

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Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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