Parcion Private Wealth LLC Purchases Shares of 1,646 D.R. Horton, Inc. (NYSE:DHI)

Parcion Private Wealth LLC acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,646 shares of the construction company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ballentine Partners LLC raised its position in shares of D.R. Horton by 16.3% during the 3rd quarter. Ballentine Partners LLC now owns 4,012 shares of the construction company’s stock valued at $765,000 after buying an additional 563 shares in the last quarter. Silver Oak Securities Incorporated raised its position in D.R. Horton by 1,194.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 4,322 shares of the construction company’s stock worth $823,000 after purchasing an additional 3,988 shares during the period. Dakota Wealth Management purchased a new position in D.R. Horton in the 3rd quarter worth $247,000. Values First Advisors Inc. raised its position in D.R. Horton by 6.8% in the 3rd quarter. Values First Advisors Inc. now owns 9,482 shares of the construction company’s stock worth $1,809,000 after purchasing an additional 604 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in D.R. Horton by 23.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,015 shares of the construction company’s stock worth $766,000 after purchasing an additional 768 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Down 1.9 %

DHI opened at $179.24 on Friday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $187.89 and a 200-day moving average price of $164.69. D.R. Horton, Inc. has a twelve month low of $100.81 and a twelve month high of $199.85. The stock has a market capitalization of $59.03 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.78 and a beta of 1.72.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Evercore ISI boosted 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 report on Monday, July 15th. UBS Group boosted their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Bank of America lifted their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.67.

D.R. Horton 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.