Retirement Systems of Alabama Trims Position in D.R. Horton, Inc. (NYSE:DHI)

Retirement Systems of Alabama trimmed its position in D.R. Horton, Inc. (NYSE:DHI) by 0.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 65,379 shares of the construction company’s stock after selling 534 shares during the period. Retirement Systems of Alabama’s holdings in D.R. Horton were worth $9,214,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of D.R. Horton by 515.5% in the fourth quarter. International Assets Investment Management LLC now owns 157,147 shares of the construction company’s stock worth $23,883,000 after buying an additional 131,616 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new position in D.R. Horton in the 4th quarter worth $248,000. Alaska Permanent Fund Corp purchased a new position in D.R. Horton during the fourth quarter valued at $434,000. Bryn Mawr Capital Management LLC bought a new stake in D.R. Horton during the fourth quarter valued at about $410,000. Finally, Kovack Advisors Inc. bought a new stake in D.R. Horton during the fourth quarter valued at about $362,000. 90.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JMP Securities increased their price objective 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. Bank of America raised their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, UBS Group upped their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $175.60.

D.R. Horton Price Performance

NYSE:DHI opened at $191.79 on Friday. The company has a market capitalization of $63.16 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.83 and a beta of 1.71. The business’s 50-day moving average is $161.17 and its 200 day moving average is $153.36. The company has a current ratio of 7.22, 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 $100.08 and a 12 month high of $192.41.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the company earned $3.90 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton announced that its Board of Directors has initiated a share repurchase 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 purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is 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.