Forum Financial Management LP Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

Forum Financial Management LP decreased its holdings in D.R. Horton, Inc. (NYSE:DHI) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,634 shares of the construction company’s stock after selling 290 shares during the quarter. Forum Financial Management LP’s holdings in D.R. Horton were worth $1,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DHI. Vanguard Group Inc. lifted its position in D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares during the period. Greenhaven Associates Inc. increased its position in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after acquiring an additional 81,900 shares during the last quarter. Earnest Partners LLC lifted its holdings in D.R. Horton by 0.4% in the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after acquiring an additional 9,137 shares during the period. Principal Financial Group Inc. boosted its position in D.R. Horton by 51.2% in the second 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. Finally, Assenagon Asset Management S.A. grew its stake in shares of 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 during the period. Institutional investors own 90.63% of the company’s stock.

Wall Street Analyst Weigh In

DHI has been the topic of a number of research reports. BTIG Research dropped their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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 research note on Friday, July 19th. Barclays reduced their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group lowered their target price on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Evercore ISI reduced their price target on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton currently has an average rating of “Moderate Buy” and a consensus price target of $185.87.

D.R. Horton Price Performance

NYSE:DHI opened at $170.74 on Tuesday. The company has a market capitalization of $55.63 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.56 and a beta of 1.74. The business’s 50-day moving average is $186.10 and its 200 day moving average is $165.76. The company has a current ratio of 7.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12 month low of $116.22 and a 12 month high of $199.85.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the company earned $4.45 EPS. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts forecast that D.R. Horton, Inc. will post 15.74 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s payout ratio is presently 11.14%.

D.R. Horton announced that its board has authorized a stock 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 reacquire up to 6.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

D.R. Horton Company Profile

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.