Covestor Ltd Lowers Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Covestor Ltd cut its holdings in D.R. Horton, Inc. (NYSE:DHI) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,164 shares of the construction company’s stock after selling 151 shares during the quarter. Covestor Ltd’s holdings in D.R. Horton were worth $192,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DHI. Norges Bank purchased a new position in D.R. Horton in the fourth quarter valued at about $516,530,000. Vanguard Group Inc. increased its stake in shares of 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 worth $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in D.R. Horton by 62.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after buying an additional 525,705 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of D.R. Horton by 21.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,714,195 shares of the construction company’s stock worth $412,503,000 after purchasing an additional 484,058 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in D.R. Horton by 295.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 544,992 shares of the construction company’s stock worth $89,678,000 after acquiring an additional 407,076 shares during the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DHI shares. Wedbush reaffirmed an “underperform” rating and issued a $130.00 target price on shares of D.R. Horton in a research report on Thursday, April 18th. Royal Bank of Canada increased their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday. Keefe, Bruyette & Woods upped their target price on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday. Evercore ISI boosted their price target on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Barclays raised their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.69.

D.R. Horton Price Performance

NYSE DHI traded up $1.28 on Tuesday, reaching $178.44. The company’s stock had a trading volume of 985,063 shares, compared to its average volume of 2,557,015. The firm’s 50 day moving average is $145.96 and its two-hundred day moving average is $148.52. The stock has a market cap of $58.76 billion, a PE ratio of 12.06, a PEG ratio of 0.86 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $178.71.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.35. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the company earned $3.90 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts predict that D.R. Horton, Inc. will post 14.39 EPS for the current year.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s dividend payout ratio is currently 8.17%.

D.R. Horton declared that its Board of Directors has approved a share buyback plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the completion of the sale, the director now directly owns 1,703 shares of the company’s stock, valued at $256,642.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.74% of the company’s stock.

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.