D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. trimmed its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,453 shares of the construction company’s stock after selling 678 shares during the quarter. D.R. Horton accounts for about 1.3% of Patton Fund Management Inc.’s portfolio, making the stock its 23rd largest holding. Patton Fund Management Inc.’s holdings in D.R. Horton were worth $6,191,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Premier Path Wealth Partners LLC grew its holdings in shares of D.R. Horton by 1.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after acquiring an additional 59 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in D.R. Horton by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock worth $739,000 after buying an additional 60 shares during the period. Whittier Trust Co. lifted its stake in D.R. Horton by 1.7% during the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after buying an additional 63 shares in the last quarter. Values First Advisors Inc. increased its position in shares of D.R. Horton by 0.7% in the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after acquiring an additional 66 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in shares of D.R. Horton by 0.3% in the second quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company’s stock worth $3,350,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada raised their target price 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. Barclays upped their price target on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods upped their target price on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $185.67.

D.R. Horton Stock Down 0.9 %

NYSE:DHI traded down $1.82 during trading hours on Thursday, reaching $190.61. The company’s stock had a trading volume of 359,727 shares, compared to its average volume of 2,429,445. 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 cap of $62.77 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $199.85. The business’s 50-day moving average is $186.42 and its 200-day moving average is $163.36.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the firm earned $3.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton declared that its Board of Directors has approved a stock 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.