D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lowered its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,453 shares of the construction company’s stock after selling 678 shares during the period. D.R. Horton makes up about 1.3% of Patton Fund Management Inc.’s investment portfolio, making the stock its 23rd largest position. Patton Fund Management Inc.’s holdings in D.R. Horton were worth $6,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares in the last quarter. Principal Financial Group Inc. increased its holdings in D.R. Horton by 51.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after purchasing an additional 561,337 shares during the last quarter. Long Pond Capital LP raised its position in shares of D.R. Horton by 438.6% in the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after purchasing an additional 537,276 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of D.R. Horton by 265.6% during the 1st quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock valued at $73,239,000 after buying an additional 354,789 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DHI has been the topic of several recent analyst reports. UBS Group upped their price target on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. JMP Securities lifted their price target on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods lifted 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, July 23rd. Finally, Wells Fargo & Company upped their price target on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.67.

D.R. Horton Stock Performance

Shares of NYSE DHI traded down $1.82 during midday trading on Thursday, hitting $190.61. 359,727 shares of the company’s stock were exchanged, compared to its average volume of 2,429,445. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $199.85. The firm has a market cap of $62.77 billion, a P/E ratio of 12.99, a PEG ratio of 0.78 and a beta of 1.72. The stock’s 50 day moving average price is $186.42 and its 200-day moving average price is $163.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last released 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 company 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 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current year.

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

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.