Fred Alger Management LLC Acquires 14,808 Shares of D.R. Horton, Inc. (NYSE:DHI)

Fred Alger Management LLC raised its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 3,396.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,244 shares of the construction company’s stock after buying an additional 14,808 shares during the quarter. Fred Alger Management LLC’s holdings in D.R. Horton were worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of DHI. Nemes Rush Group LLC raised its stake in D.R. Horton by 74.5% during the 4th quarter. Nemes Rush Group LLC now owns 192 shares of the construction company’s stock valued at $27,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of D.R. Horton during the fourth quarter valued at about $30,000. Rosenberg Matthew Hamilton lifted its stake in shares of D.R. Horton by 152.8% in the fourth quarter. Rosenberg Matthew Hamilton now owns 273 shares of the construction company’s stock valued at $38,000 after buying an additional 165 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in D.R. Horton during the fourth quarter valued at about $38,000. Finally, Sierra Ocean LLC acquired a new position in D.R. Horton in the 4th quarter valued at approximately $43,000. 90.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on DHI shares. Wedbush reissued a “neutral” rating and set a $180.00 price objective on shares of D.R. Horton in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of D.R. Horton from $125.00 to $105.00 and set an “underperform” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of D.R. Horton from $132.00 to $111.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. Barclays dropped their price target on shares of D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Finally, StockNews.com downgraded D.R. Horton from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $151.15.

D.R. Horton Price Performance

D.R. Horton stock opened at $122.01 on Friday. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $199.85. The firm has a market cap of $37.48 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 6.92. The business’s fifty day moving average is $125.33 and its two-hundred day moving average is $140.78.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.11). D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the company earned $3.52 EPS. Equities research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a $0.40 dividend. The ex-dividend date was Friday, May 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. D.R. Horton’s payout ratio is 12.11%.

D.R. Horton Company Profile

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.