Sumitomo Life Insurance Co. Purchases 159 Shares of D.R. Horton, Inc. (NYSE:DHI)

Sumitomo Life Insurance Co. increased its position in D.R. Horton, Inc. (NYSE:DHI) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,795 shares of the construction company’s stock after acquiring an additional 159 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in D.R. Horton were worth $1,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DHI. Vanguard Group Inc. grew its stake in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after buying an additional 2,474,262 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after acquiring an additional 987,834 shares during the period. Principal Financial Group Inc. grew its position in shares of D.R. Horton by 51.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares in the last quarter. Long Pond Capital LP raised its stake in shares of D.R. Horton by 438.6% during the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after purchasing an additional 537,276 shares during the period. Finally, National Bank of Canada FI lifted its holdings in D.R. Horton by 265.6% during the 1st quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after purchasing an additional 354,789 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Trading Up 1.6 %

DHI stock opened at $192.38 on Thursday. The company has a market capitalization of $63.35 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $199.85. The company’s 50 day moving average price is $186.42 and its two-hundred day moving average price is $163.36.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.90 EPS. As a group, analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton declared that its board has approved a stock buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DHI shares. Keefe, Bruyette & Woods upped their price target on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Barclays upped their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. JMP Securities boosted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Evercore ISI lifted their price objective on D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.67.

About D.R. Horton

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.