Argent Trust Co Cuts Holdings in D.R. Horton, Inc. (NYSE:DHI)

Argent Trust Co decreased its position in D.R. Horton, Inc. (NYSE:DHI) by 1.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 32,119 shares of the construction company’s stock after selling 623 shares during the period. Argent Trust Co’s holdings in D.R. Horton were worth $4,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DHI. Avantax Advisory Services Inc. raised its stake in shares of D.R. Horton by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,476 shares of the construction company’s stock worth $528,000 after purchasing an additional 357 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of D.R. Horton by 24.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock worth $4,978,000 after purchasing an additional 6,429 shares during the last quarter. Level Four Advisory Services LLC raised its holdings in shares of D.R. Horton by 20.0% in the 4th quarter. Level Four Advisory Services LLC now owns 2,455 shares of the construction company’s stock worth $373,000 after purchasing an additional 409 shares during the period. Brown Advisory Inc. grew its holdings in D.R. Horton by 12.0% during the fourth quarter. Brown Advisory Inc. now owns 5,461 shares of the construction company’s stock valued at $830,000 after purchasing an additional 587 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in D.R. Horton by 7.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,915 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,277 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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. StockNews.com lowered shares of D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. 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 report on Tuesday, July 23rd. Evercore ISI lifted their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, July 19th. Two investment 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. Based on data from MarketBeat, D.R. Horton currently has a consensus rating of “Hold” and an average target price of $182.07.

D.R. Horton Trading Up 0.5 %

Shares of DHI stock opened at $195.48 on Wednesday. The business has a 50-day moving average price of $177.90 and a two-hundred day moving average price of $158.56. D.R. Horton, Inc. has a 12-month low of $100.08 and a 12-month high of $196.72. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a market cap of $64.37 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.90 EPS. Equities analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s payout ratio is presently 8.17%.

D.R. Horton declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares buyback plans are usually 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.