Manhattan West Asset Management LLC Makes New $7.15 Million Investment in D.R. Horton, Inc. $DHI

Manhattan West Asset Management LLC acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,882 shares of the construction company’s stock, valued at approximately $7,148,000. D.R. Horton accounts for about 1.2% of Manhattan West Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in DHI. BlackRock Inc. bought a new stake in D.R. Horton during the 2nd quarter valued at $4,067,842,000. Capital World Investors grew its holdings in D.R. Horton by 22.1% in the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company’s stock worth $5,321,849,000 after acquiring an additional 6,695,592 shares during the last quarter. Norges Bank bought a new stake in D.R. Horton in the 4th quarter worth $649,305,000. Bank of New York Mellon Corp purchased a new position in shares of D.R. Horton in the second quarter valued at about $294,292,000. Finally, Boston Partners bought a new position in shares of D.R. Horton during the third quarter valued at about $274,784,000. Institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

DHI has been the topic of several recent analyst reports. BTIG Research set a $184.00 target price on D.R. Horton in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their price objective on D.R. Horton from $175.00 to $167.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of D.R. Horton in a research report on Tuesday, July 21st. Weiss Ratings upgraded D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Finally, Barclays raised their price target on D.R. Horton from $140.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $166.92.

D.R. Horton Price Performance

DHI stock opened at $148.43 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.43 and a quick ratio of 1.04. D.R. Horton, Inc. has a 1 year low of $131.75 and a 1 year high of $184.54. The firm has a 50-day moving average of $151.80 and a 200 day moving average of $149.75. The company has a market cap of $41.52 billion, a P/E ratio of 14.12, a PEG ratio of 2.34 and a beta of 1.37.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 earnings per share 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 business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the previous year, the firm posted $3.36 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that D.R. Horton, Inc. will post 10.47 EPS for the current year.

D.R. Horton Announces Dividend

The company 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 is presently 17.13%.

About D.R. Horton

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.