Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 148,251 D.R. Horton, Inc. $DHI

Connor Clark & Lunn Investment Management Ltd. bought a new position in D.R. Horton, Inc. (NYSE:DHI) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 148,251 shares of the construction company’s stock, valued at approximately $24,147,000.

Other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia purchased a new position in shares of D.R. Horton in the 2nd quarter worth about $10,354,000. Kendall Capital Management purchased a new stake in D.R. Horton during the 2nd quarter valued at about $289,000. Compass Financial Management LLC bought a new stake in D.R. Horton during the 2nd quarter valued at about $31,000. Elevation Point Wealth Partners LLC purchased a new position in D.R. Horton in the second quarter worth about $3,920,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new position in D.R. Horton in the second quarter worth about $2,764,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of D.R. Horton in a report on Tuesday, July 21st. Royal Bank Of Canada restated a “mixed” rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Barclays increased their target price on D.R. Horton from $140.00 to $141.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods reduced their target price 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. Finally, Zelman & Associates upgraded D.R. Horton from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $166.92.

D.R. Horton Stock Performance

Shares of DHI opened at $149.04 on Tuesday. The firm has a market capitalization of $41.69 billion, a P/E ratio of 14.18, a PEG ratio of 2.35 and a beta of 1.37. 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 one year low of $131.75 and a one year high of $184.54. The business has a fifty day moving average of $151.68 and a 200 day moving average of $149.72.

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

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 6th. D.R. Horton’s dividend payout ratio is 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.