NewEdge Wealth LLC Acquires Shares of 3,440 D.R. Horton, Inc. $DHI

NewEdge Wealth LLC acquired a new position in D.R. Horton, Inc. (NYSE:DHI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,440 shares of the construction company’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Great Lakes Advisors LLC purchased a new stake in D.R. Horton in the second quarter valued at $710,000. Danske Bank A S acquired a new position in shares of D.R. Horton in the 2nd quarter valued at about $19,404,000. Diversify Advisory Services LLC purchased a new stake in shares of D.R. Horton in the second quarter worth about $1,070,000. Wealthfront Advisers LLC purchased a new position in D.R. Horton during the second quarter valued at approximately $14,622,000. Finally, Foster & Motley Inc. acquired a new position in D.R. Horton in the second quarter valued at approximately $8,560,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Up 0.7%

Shares of NYSE DHI opened at $148.43 on Friday. The firm has a market cap of $41.52 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37. The company’s 50-day simple moving average is $151.80 and its 200-day simple moving average is $149.75. The company has a quick ratio of 1.04, a current ratio of 6.43 and a debt-to-equity ratio of 0.29. D.R. Horton, Inc. has a 52-week low of $131.75 and a 52-week high of $184.54.

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

D.R. Horton Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on DHI shares. Wells Fargo & Company dropped their price objective on shares of D.R. Horton from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Royal Bank Of Canada reaffirmed a “mixed” rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Zelman & Associates raised shares of D.R. Horton from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Finally, Barclays increased their price target on D.R. Horton from $140.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. 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, D.R. Horton has an average rating of “Hold” and an average target price of $166.92.

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.