The California Public Employees Retirement System (CalPERS) has recently reported that it cut its holdings in D.R. Horton, Inc. by 3.4% in the fourth quarter of last year. This came following the recent filing of Form 13F with the Securities and Exchange Commission (SEC). The company sold 24,865 shares bringing its total share holding to 702,310 which is worth around $62,604,000 at the end of Q4.
A number of equities research analysts have commented on DHI shares recently including Barclays who lifted their price objective on shares of D.R. Horton from $114.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 21st.
D.R. Horton’s stock opened at $108.50 on Tuesday and has a market capitalization value worth $37.01 billion with a P/E ratio of 7.32 and P/E/G ratio of 0.66 signifying strong financial stability.
The quick ratio of D.R.Horton stands at 1.27 suggesting that the construction company has enough liquid assets to clear off its short-term liabilities without any hassle, unlike many other players in this sector.
Although one analyst rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock leading to an average target price of $109.77 according to data from Bloomberg.com.”
Despite being subject to mixed opinions amongst analysts, D.R Horton seems poised for continued financial growth due to its solid footing in terms of fundamentals and consistent track record over years; so be sure to keep an eye out for future developments regarding this construction giant!
D.R. Horton’s Success Sparks Interest from Hedge Funds and Institutional Investors in the Construction Industry
The construction industry has been in the spotlight lately due to the recent success of D.R. Horton (NYSE: DHI), a company that has seen an increase in stake by hedge funds and institutional investors alike. Parnassus Investments LLC, Nuveen Asset Management LLC, Invesco Ltd., Marshall Wace LLP, and Vanguard Group Inc. have all purchased large portions of D.R. Horton’s stock over the past few quarters, indicating strong confidence in the company’s potential for growth.
Although insiders have sold a significant amount of shares in the past 90 days, corporate insiders still maintain a small percentage of ownership at 0.61%. Analysts have also weighed in with varying opinions on D.R. Horton’s future prospects. While Barclays gave the company an “overweight” rating with a price objective of $131 per share, Raymond James downgraded it to “market perform.”
However, D.R. Horton recently reported strong earnings results for Q1 2021 with earnings per share of $2.73 versus analysts’ estimates of $1.90 – beating expectations by $0.83 per share. The company also saw increases in revenue from Q1 2022 despite the ongoing pandemic.
D.R. Horton is confident enough in their continued success to announce a quarterly dividend payout and expect earnings per share to reach around $10.57 for this year.
Overall, while there are differing opinions among experts regarding their view on D.R. Horton’s future success, recent moves by shareholders and consistently positive earnings results indicate that this construction business is one worth keeping an eye on for any investor interested in potential long-term growth opportunities within the industry.