Western Financial Corp CA Reduces Holdings in D.R. Horton, Inc. (NYSE:DHI)

Western Financial Corp CA lowered its position in D.R. Horton, Inc. (NYSE:DHI) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,523 shares of the construction company’s stock after selling 541 shares during the quarter. Western Financial Corp CA’s holdings in D.R. Horton were worth $863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC lifted its stake in shares of D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after buying an additional 74 shares in the last quarter. RiverPark Advisors LLC bought a new position in shares of D.R. Horton in the first quarter worth $29,000. Riverview Trust Co purchased a new position in shares of D.R. Horton in the first quarter valued at $30,000. Signature Resources Capital Management LLC bought a new stake in shares of D.R. Horton during the 2nd quarter valued at $31,000. Finally, Wolff Wiese Magana LLC lifted its holdings in D.R. Horton by 1,306.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after purchasing an additional 196 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Stock Down 3.9 %

Shares of DHI traded down $7.65 during trading hours on Monday, hitting $186.91. The company had a trading volume of 1,079,443 shares, compared to its average volume of 2,430,491. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85. The firm has a fifty day moving average price of $187.21 and a 200-day moving average price of $163.88. The stock has a market capitalization of $61.55 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.90 EPS. On average, equities research analysts forecast 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 permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. 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. UBS Group boosted their target price 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 increased their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Evercore ISI upped their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, D.R. Horton has an average rating of “Moderate Buy” and a consensus target price of $185.67.

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.