Wedge Capital Management L L P NC Trims Stake in D.R. Horton, Inc. (NYSE:DHI)

Wedge Capital Management L L P NC cut its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 257,805 shares of the construction company’s stock after selling 21,274 shares during the quarter. Wedge Capital Management L L P NC’s holdings in D.R. Horton were worth $49,181,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of D.R. Horton during the 1st quarter valued at about $27,000. RiverPark Advisors LLC bought a new position in shares of D.R. Horton in the first quarter worth approximately $29,000. Bfsg LLC increased its stake in shares of D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares in the last quarter. Riverview Trust Co bought a new stake in shares of D.R. Horton during the 1st quarter valued at $30,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of D.R. Horton during the 2nd quarter valued at $31,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 1.4 %

DHI stock traded up $2.58 during mid-day trading on Monday, reaching $185.40. The company had a trading volume of 400,942 shares, compared to its average volume of 2,438,497. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The company has a market capitalization of $61.05 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. The firm has a 50 day moving average of $185.36 and a 200 day moving average of $162.83. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $199.85.

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

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. D.R. Horton’s dividend payout ratio is presently 8.17%.

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 purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

DHI has been the subject of a number of analyst reports. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and cut their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Bank of America lifted 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. JMP Securities increased their price target on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada lifted their price target on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, July 19th. Two research 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. According to data from MarketBeat, D.R. Horton presently has an average rating of “Hold” and an average price target of $183.33.

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.