Kentucky Retirement Systems Insurance Trust Fund Trims Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,855 shares of the construction company’s stock after selling 881 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in D.R. Horton were worth $1,622,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in D.R. Horton during the first quarter worth about $27,000. RiverPark Advisors LLC purchased a new position in D.R. Horton during the first quarter worth about $29,000. Riverview Trust Co purchased a new position in D.R. Horton during the first quarter worth about $30,000. Oakworth Capital Inc. purchased a new stake in shares of D.R. Horton in the 4th quarter valued at approximately $38,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of D.R. Horton in the 4th quarter valued at approximately $42,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DHI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target 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. StockNews.com downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. 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 research note on Friday, July 19th. Jefferies Financial Group upped their target price on shares of D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $175.60.

D.R. Horton Stock Up 2.5 %

Shares of D.R. Horton stock traded up $4.24 during trading hours on Friday, hitting $176.94. The company had a trading volume of 3,353,877 shares, compared to its average volume of 3,178,242. The company’s 50-day moving average is $147.75 and its two-hundred day moving average is $149.19. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $180.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The company has a market cap of $57.65 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last issued its 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 net margin of 13.36% and a return on equity of 20.72%. The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the business posted $3.90 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts anticipate that D.R. Horton, Inc. will post 14.45 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

D.R. Horton announced that its board has approved a stock repurchase plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction 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 owns 1,703 shares in the company, valued at approximately $256,642.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.74% of the company’s stock.

About D.R. Horton

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.