American International Group Inc. Grows Stake in D. R. Horton Inc (DHI)

American International Group Inc. grew its position in D. R. Horton Inc (NYSE:DHI) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,227 shares of the construction company’s stock after acquiring an additional 6,851 shares during the quarter. American International Group Inc.’s holdings in D. R. Horton were worth $5,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River Wealth Advisors LLC purchased a new position in D. R. Horton during the third quarter worth approximately $160,000. Capital Growth Management LP purchased a new position in D. R. Horton during the third quarter worth approximately $40,493,000. BerganKDV Wealth Management LLC purchased a new position in D. R. Horton during the third quarter worth approximately $753,000. Hillsdale Investment Management Inc. purchased a new position in D. R. Horton during the third quarter worth approximately $475,000. Finally, Bank of New York Mellon Corp lifted its position in D. R. Horton by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 3,047,603 shares of the construction company’s stock worth $128,548,000 after buying an additional 151,759 shares in the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.

DHI stock opened at $36.96 on Friday. The company has a quick ratio of 1.31, a current ratio of 7.25 and a debt-to-equity ratio of 0.35. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.69 and a beta of 1.25. D. R. Horton Inc has a 52-week low of $32.53 and a 52-week high of $53.32.

D. R. Horton (NYSE:DHI) last posted its earnings results on Thursday, November 8th. The construction company reported $1.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.22. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.56 billion. D. R. Horton had a return on equity of 18.27% and a net margin of 9.09%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, equities research analysts anticipate that D. R. Horton Inc will post 4.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.15 per share. This is a boost from D. R. Horton’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.60 annualized dividend and a yield of 1.62%. D. R. Horton’s dividend payout ratio (DPR) is 14.67%.

A number of brokerages recently commented on DHI. Wells Fargo & Co reduced their price objective on D. R. Horton from $62.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 12th. Barclays reiterated a “buy” rating and set a $41.00 price objective on shares of D. R. Horton in a research report on Friday, November 9th. JMP Securities set a $47.00 price objective on D. R. Horton and gave the stock a “buy” rating in a research report on Tuesday, October 9th. Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of D. R. Horton in a research report on Friday, September 14th. Finally, ValuEngine downgraded D. R. Horton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $47.86.

In other D. R. Horton news, CFO Bill W. Wheat sold 12,892 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $37.71, for a total transaction of $486,157.32. Following the completion of the sale, the chief financial officer now owns 145,180 shares of the company’s stock, valued at $5,474,737.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.

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About D. R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West America. It engages in the acquisition and development of land; and construction and sale of homes in 26 states and 79 markets in the United States under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, Freedom Homes, and Pacific Ridge Homes.

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Institutional Ownership by Quarter for D. R. Horton (NYSE:DHI)

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