Several hedge funds have recently adjusted their investments in D.R. Horton. Vanguard Group increased its shares by 7.6% in Q1, now holding 34,856,397 shares worth about $5.7 billion. Assenagon Asset Management raised its stake by an impressive 1,761.6% in Q2, owning 1,043,909 shares valued at $147.1 million. Principal Financial Group and Long Pond Capital also increased their holdings significantly, with Principal owning 1,657,028 shares worth $233.5 million after a 51.2% increase, and Long Pond owning 659,761 shares after a 438.6% increase. Lastly, National Bank of Canada increased its shares by 265.6% in Q1, bringing its total to 488,376 shares worth $73.2 million. Overall, institutional investors own 90.63% of the company.
D.R. Horton Shares Rise 1.9%
D.R. Horton shares (NYSE:DHI) opened at $194.56 on Friday, with a market cap of $64.07 billion. The company’s PE ratio is 13.24, and it had a 12-month low of $100.08 and a high of $199.85. Its 50-day moving average sits at $187.21.
The company reported earnings on July 18, posting an EPS of $4.10, exceeding estimates of $3.75, with revenue of $9.97 billion against an expected $9.61 billion. D.R. Horton had a 20.72% return on equity and announced a stock buyback program of $4 billion to repurchase up to 6.9% of its stock.
Analyst Ratings
Recent analyst reports have been positive for D.R. Horton. Evercore ISI raised the price target to $205, and Bank of America increased it to $215, maintaining a “buy” rating. The consensus rating for the stock is a “Moderate Buy,” with an average price target of $185.67.
About D.R. Horton
D.R. Horton, Inc. is a homebuilder operating across various U.S. regions, involved in land acquisition, development, construction, and sale of residential homes.
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