Vestcor Inc Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Vestcor Inc reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,037 shares of the construction company’s stock after selling 1,515 shares during the period. Vestcor Inc’s holdings in D.R. Horton were worth $2,487,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DHI. Continuum Advisory LLC grew its holdings in shares of D.R. Horton by 66.1% during the third quarter. Continuum Advisory LLC now owns 387 shares of the construction company’s stock worth $74,000 after purchasing an additional 154 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of D.R. Horton by 97.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 50,458 shares of the construction company’s stock worth $9,626,000 after buying an additional 24,955 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of D.R. Horton by 3.8% during the third quarter. Orion Portfolio Solutions LLC now owns 27,576 shares of the construction company’s stock worth $5,261,000 after buying an additional 999 shares during the period. World Investment Advisors LLC acquired a new stake in shares of D.R. Horton during the third quarter worth about $21,340,000. Finally, Zacks Investment Management acquired a new stake in shares of D.R. Horton during the third quarter worth about $209,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $163.10, for a total value of $921,515.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.74% of the company’s stock.

D.R. Horton Price Performance

DHI opened at $156.98 on Wednesday. The company has a 50-day moving average of $173.95 and a 200-day moving average of $168.88. The company has a market capitalization of $50.42 billion, a P/E ratio of 10.93, a PEG ratio of 0.58 and a beta of 1.71. D.R. Horton, Inc. has a 1-year low of $133.02 and a 1-year 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.

D.R. Horton (NYSE:DHI) last announced 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). 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 the consensus estimate of $10.22 billion. During the same period in the prior year, the company earned $4.45 EPS. D.R. Horton’s quarterly revenue was down 4.7% on a year-over-year basis. Equities analysts expect that D.R. Horton, Inc. will post 14.26 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is currently 11.14%.

Analyst Ratings Changes

DHI has been the subject of a number of recent analyst reports. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. BTIG Research reduced their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Bank of America raised their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $184.20.

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.