Covestor Ltd Has $192,000 Position in D.R. Horton, Inc. (NYSE:DHI)

Covestor Ltd cut its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 11.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,164 shares of the construction company’s stock after selling 151 shares during the quarter. Covestor Ltd’s holdings in D.R. Horton were worth $192,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cynosure Group LLC acquired a new stake in D.R. Horton in the 1st quarter valued at about $383,000. Edgestream Partners L.P. increased its position in D.R. Horton by 18.5% in the first quarter. Edgestream Partners L.P. now owns 1,715 shares of the construction company’s stock worth $282,000 after purchasing an additional 268 shares during the period. Acadian Asset Management LLC boosted its stake in D.R. Horton by 7.9% in the first quarter. Acadian Asset Management LLC now owns 251,271 shares of the construction company’s stock valued at $41,334,000 after acquiring an additional 18,337 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 valued at $5,735,620,000 after purchasing an additional 2,474,262 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of D.R. Horton in the 1st quarter valued at about $1,205,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Insider Activity at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the transaction, the director now directly owns 1,703 shares of the company’s stock, valued at $256,642.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research lowered their price objective on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. UBS Group boosted their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted 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 note on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.69.

D.R. Horton Trading Up 0.7 %

Shares of DHI traded up $1.28 during mid-day trading on Tuesday, reaching $178.44. 985,063 shares of the company were exchanged, compared to its average volume of 2,557,015. The business has a 50 day simple moving average of $145.96 and a two-hundred day simple moving average of $148.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $178.71. The stock has a market capitalization of $58.76 billion, a PE ratio of 12.06, a PEG ratio of 0.86 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.90 EPS. On average, analysts predict that D.R. Horton, Inc. will post 14.39 earnings per share for the current fiscal year.

D.R. Horton declared that its board has authorized a share repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

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.