Los Angeles Capital Management LLC Sells 206,614 Shares of D.R. Horton, Inc. (NYSE:DHI)

Los Angeles Capital Management LLC reduced its stake in D.R. Horton, Inc. (NYSE:DHI) by 33.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,015 shares of the construction company’s stock after selling 206,614 shares during the period. Los Angeles Capital Management LLC’s holdings in D.R. Horton were worth $59,052,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DHI. Bfsg LLC boosted its stake in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares during the period. Rise Advisors LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $27,000. RiverPark Advisors LLC bought a new stake in D.R. Horton during the 1st quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in D.R. Horton in the 1st quarter worth approximately $30,000. Finally, Signature Resources Capital Management LLC bought a new position in D.R. Horton in the 2nd quarter valued at $31,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. UBS Group increased their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America raised their price target on D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Barclays increased their price target 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.07.

D.R. Horton Trading Up 1.3 %

Shares of NYSE:DHI traded up $2.42 on Friday, reaching $186.14. 2,657,378 shares of the company traded hands, compared to its average volume of 2,512,501. The stock has a market capitalization of $61.30 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 0.87 and a beta of 1.73. The business’s 50-day simple moving average is $170.26 and its 200 day simple moving average is $156.25. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $193.63.

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, topping 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 business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period last year, the company earned $3.90 EPS. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton announced that its board has initiated 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

D.R. Horton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.64%. D.R. Horton’s payout ratio is currently 8.17%.

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.