Private Advisory Group LLC Cuts Stake in D.R. Horton, Inc. (NYSE:DHI)

Private Advisory Group LLC trimmed its position in D.R. Horton, Inc. (NYSE:DHI) by 24.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,216 shares of the construction company’s stock after selling 5,642 shares during the period. Private Advisory Group LLC’s holdings in D.R. Horton were worth $3,284,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of D.R. Horton by 7.6% in the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after acquiring an additional 2,474,262 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of D.R. Horton by 1,761.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after buying an additional 987,834 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of 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 valued at $233,525,000 after buying an additional 561,337 shares during the last quarter. Long Pond Capital LP lifted its stake in shares of D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after buying an additional 537,276 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in D.R. Horton by 62.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock worth $207,864,000 after acquiring an additional 525,705 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Trading Down 1.0 %

DHI opened at $183.40 on Friday. The business has a fifty day moving average price of $185.17 and a 200 day moving average price of $162.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $199.85. The stock has a market capitalization of $59.76 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the firm earned $3.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.06%.

D.R. Horton announced that its board has authorized a stock repurchase program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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 report on Friday, July 19th. 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. Citigroup downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Barclays increased their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, JMP Securities lifted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $183.33.

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.