D.R. Horton, Inc. (NYSE:DHI) Position Reduced by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its position in D.R. Horton, Inc. (NYSE:DHI) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,855 shares of the construction company’s stock after selling 881 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in D.R. Horton were worth $1,622,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of D.R. Horton in the first quarter valued at approximately $27,000. RiverPark Advisors LLC bought a new position in shares of D.R. Horton in the first quarter valued at approximately $29,000. Riverview Trust Co bought a new position in shares of D.R. Horton in the first quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in shares of D.R. Horton in the fourth quarter valued at approximately $38,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of D.R. Horton in the fourth quarter worth $42,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of D.R. Horton stock traded up $4.24 during trading on Friday, reaching $176.94. The company’s stock had a trading volume of 3,353,877 shares, compared to its average volume of 3,178,242. The stock has a 50-day moving average price of $147.75 and a two-hundred day moving average price of $149.19. 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 one year low of $100.08 and a one year high of $180.15. The stock has a market capitalization of $57.65 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the business posted $3.90 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that D.R. Horton, Inc. will post 14.45 EPS for the current fiscal year.

D.R. Horton declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

D.R. Horton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.68%. D.R. Horton’s dividend payout ratio is currently 8.17%.

Insiders Place Their Bets

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DHI. JMP Securities raised 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. Wedbush restated an “underperform” rating and issued a $130.00 price objective on shares of D.R. Horton in a research note on Thursday, April 18th. JPMorgan Chase & Co. lifted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Barclays lifted their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $175.60.

D.R. Horton Company 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.