D.R. Horton, Inc. (NYSE:DHI) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 24.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,505 shares of the construction company’s stock after selling 488 shares during the quarter. NorthRock Partners LLC’s holdings in D.R. Horton were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Concurrent Investment Advisors LLC purchased a new position in D.R. Horton in the 1st quarter valued at approximately $1,249,000. Legacy CG LLC purchased a new stake in D.R. Horton during the 3rd quarter worth about $4,220,000. Bessemer Group Inc. raised its position in D.R. Horton by 107.6% in the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after purchasing an additional 7,699 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of D.R. Horton by 92.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after buying an additional 199,668 shares during the period. Finally, Concord Investment Counsel Inc. acquired a new position in shares of D.R. Horton during the first quarter worth about $4,161,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of DHI opened at $166.70 on Thursday. 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, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $199.85. The firm has a 50-day simple moving average of $185.40 and a 200-day simple moving average of $165.98. The company has a market capitalization of $54.32 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last posted 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). The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. During the same period in the previous year, the business posted $4.45 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that D.R. Horton, Inc. will post 15.64 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 8.36%.

D.R. Horton declared that its board has initiated a stock repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DHI shares. Evercore ISI decreased their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. BTIG Research decreased their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Wedbush raised 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. Finally, Citigroup cut their target price on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.87.

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.