Assenagon Asset Management S.A. Has $71.68 Million Stake in D.R. Horton, Inc. (NYSE:DHI)

Assenagon Asset Management S.A. lessened its holdings in D.R. Horton, Inc. (NYSE:DHI) by 64.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 375,719 shares of the construction company’s stock after selling 668,190 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of D.R. Horton worth $71,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in D.R. Horton by 7.6% during 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 acquiring an additional 2,474,262 shares during the period. Principal Financial Group Inc. raised its stake in 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 worth $233,525,000 after buying an additional 561,337 shares in the last quarter. Long Pond Capital LP raised its stake in D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after buying an additional 537,276 shares in the last quarter. National Bank of Canada FI raised its stake in D.R. Horton by 265.6% in the first quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after buying an additional 354,789 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its stake in shares of D.R. Horton by 592.4% during the second quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company’s stock valued at $56,784,000 after purchasing an additional 344,731 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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. Bank of America increased their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Evercore ISI increased their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One equities 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.67.

D.R. Horton Price Performance

Shares of DHI traded up $2.80 during trading hours on Thursday, reaching $183.09. The company had a trading volume of 678,158 shares, compared to its average volume of 2,429,107. The firm has a 50 day simple moving average of $187.72 and a 200-day simple moving average of $164.36. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.78 and a beta of 1.72. D.R. Horton, Inc. has a 12-month low of $100.29 and a 12-month high of $199.85.

D.R. Horton announced that its Board of Directors has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

D.R. Horton Company Profile

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.