372,512 Shares in D.R. Horton, Inc. $DHI Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 372,512 shares of the construction company’s stock, valued at approximately $60,675,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van Hulzen Asset Management LLC bought a new position in D.R. Horton in the 2nd quarter worth approximately $1,458,000. Fiduciary Financial Advisors bought a new stake in shares of D.R. Horton during the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new position in shares of D.R. Horton in the second quarter worth $417,000. L2 Asset Management LLC purchased a new position in shares of D.R. Horton in the second quarter worth $237,000. Finally, Algert Global LLC bought a new position in shares of D.R. Horton during the second quarter worth $1,186,000. 90.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DHI. BTIG Research set a $184.00 price target on shares of D.R. Horton in a report on Wednesday, July 22nd. Weiss Ratings upgraded D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods reduced their target price on D.R. Horton from $175.00 to $167.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Zelman & Associates upgraded D.R. Horton from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 7th. Finally, Citigroup reissued a “neutral” rating on shares of D.R. Horton in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $166.92.

D.R. Horton Price Performance

Shares of DHI stock opened at $150.91 on Wednesday. D.R. Horton, Inc. has a 52-week low of $131.75 and a 52-week high of $184.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. The firm has a market capitalization of $42.21 billion, a P/E ratio of 14.36, a P/E/G ratio of 2.36 and a beta of 1.37. The stock has a 50 day moving average price of $151.57 and a 200 day moving average price of $149.67.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.02 by $0.18. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the company posted $3.36 EPS. D.R. Horton’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that D.R. Horton, Inc. will post 10.47 earnings per share for the current year.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 6th. D.R. Horton’s dividend payout ratio (DPR) is currently 17.13%.

D.R. Horton Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.