Baxter Bros Inc. Trims Position in D.R. Horton, Inc. (NYSE:DHI)

Baxter Bros Inc. reduced its position in D.R. Horton, Inc. (NYSE:DHI) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,940 shares of the construction company’s stock after selling 741 shares during the quarter. Baxter Bros Inc.’s holdings in D.R. Horton were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in D.R. Horton in the 1st quarter valued at $1,249,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in D.R. Horton by 85.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after buying an additional 16,252 shares during the period. Bessemer Group Inc. grew its position in D.R. Horton by 107.6% during the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after buying an additional 7,699 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in D.R. Horton by 92.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after acquiring an additional 199,668 shares during the last quarter. Finally, Concord Investment Counsel Inc. purchased a new stake in shares of D.R. Horton in the 1st quarter valued at about $4,161,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Down 0.8 %

Shares of NYSE:DHI opened at $167.64 on Friday. The stock’s 50-day moving average is $186.47 and its 200 day moving average is $165.44. The company has a market cap of $54.62 billion, a PE ratio of 11.67, a P/E/G ratio of 0.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.30. D.R. Horton, Inc. has a 1 year low of $111.59 and a 1 year high of $199.85.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The business 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%. D.R. Horton’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.45 earnings per share. Sell-side analysts anticipate that D.R. Horton, Inc. will post 15.74 EPS for the current year.

D.R. Horton announced that its Board of Directors has authorized 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 reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

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 issued a $0.40 dividend. The ex-dividend date is Tuesday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.95%. D.R. Horton’s dividend payout ratio is 8.36%.

Analysts Set New Price Targets

Several research firms recently weighed in on DHI. JMP Securities upped 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 report on Friday, July 19th. BTIG Research lowered 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 research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Barclays reduced their target price on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Citigroup dropped their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $185.33.

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.