Washington Trust Bank Sells 251 Shares of D.R. Horton, Inc. (NYSE:DHI)

Washington Trust Bank cut its holdings in D.R. Horton, Inc. (NYSE:DHI) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,417 shares of the construction company’s stock after selling 251 shares during the quarter. Washington Trust Bank’s holdings in D.R. Horton were worth $461,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC lifted its holdings in shares of D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake 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 valued at $40,000 after acquiring an additional 196 shares during the period. Grove Bank & Trust boosted its holdings in shares of D.R. Horton by 76.2% during the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after acquiring an additional 93 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in shares of D.R. Horton in the second quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in D.R. Horton during the 2nd quarter valued at $42,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

Shares of DHI traded down $0.27 during midday trading on Thursday, hitting $166.44. 73,137 shares of the company traded hands, compared to its average volume of 2,506,616. D.R. Horton, Inc. has a 52 week low of $120.10 and a 52 week high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32. The firm has a 50 day moving average of $185.40 and a 200-day moving average of $165.98. The stock has a market cap of $54.23 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.57 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data 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). The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.45 EPS. On average, analysts forecast that D.R. Horton, Inc. will post 15.64 EPS for the current fiscal year.

D.R. Horton declared that its Board of Directors has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

D.R. Horton Increases Dividend

The firm 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 $0.40 dividend. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is presently 8.36%.

Wall Street Analysts Forecast Growth

DHI has been the topic of a number of research reports. Citigroup dropped their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI lowered their price objective on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a report on Monday. 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 research report on Thursday, September 19th. Finally, Barclays cut their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.87.

D.R. Horton 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.