Argus Investors Counsel Inc. Sells 238 Shares of D.R. Horton, Inc. (NYSE:DHI)

Argus Investors Counsel Inc. decreased its stake in D.R. Horton, Inc. (NYSE:DHI) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,001 shares of the construction company’s stock after selling 238 shares during the period. Argus Investors Counsel Inc.’s holdings in D.R. Horton were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Bfsg LLC grew its position 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 worth $25,000 after buying an additional 74 shares during the period. RiverPark Advisors LLC bought a new position in D.R. Horton during the 1st quarter valued at $29,000. Riverview Trust Co purchased a new position in D.R. Horton during the first quarter worth about $30,000. Signature Resources Capital Management LLC bought a new position in shares of D.R. Horton during the 2nd quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC lifted its holdings in D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after acquiring an additional 196 shares during the period. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Stock Performance

Shares of DHI stock traded down $6.39 on Tuesday, reaching $179.88. The stock had a trading volume of 1,203,860 shares, compared to its average volume of 2,428,270. The company has a 50 day simple moving average of $187.49 and a 200 day simple moving average of $164.09. The stock has a market cap of $59.24 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85. 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 announced that its Board of Directors has approved a share repurchase program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DHI shares. JMP Securities lifted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Bank of America raised their target price on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, D.R. Horton currently has a consensus rating of “Moderate Buy” and an average 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.