Chevy Chase Trust Holdings LLC Sells 3,549 Shares of D.R. Horton, Inc. (NYSE:DHI)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,827 shares of the construction company’s stock after selling 3,549 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in D.R. Horton were worth $22,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of 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 worth $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of D.R. Horton by 2.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after buying an additional 81,900 shares during the last quarter. Norges Bank purchased a new position in shares of D.R. Horton in the 4th quarter worth about $516,530,000. Franklin Resources Inc. boosted its holdings in shares of D.R. Horton by 12.5% in the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock worth $356,454,000 after buying an additional 260,864 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of D.R. Horton by 10.6% in the 1st quarter. Earnest Partners LLC now owns 2,055,012 shares of the construction company’s stock worth $338,152,000 after buying an additional 196,748 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of D.R. Horton stock traded down $1.84 on Tuesday, reaching $179.61. The stock had a trading volume of 1,448,687 shares, compared to its average volume of 2,552,050. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $185.43. The company has a market cap of $59.15 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $157.69 and its two-hundred day moving average is $152.27.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.90 earnings per share. As a group, research analysts anticipate that D.R. Horton, Inc. will post 14.04 EPS for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DHI. Keefe, Bruyette & Woods boosted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. UBS Group upped their price objective 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 upped their price objective on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $175.60.

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.