Heritage Wealth Management Inc. Trims Stake in D.R. Horton, Inc. (NYSE:DHI)

Heritage Wealth Management Inc. lessened its position in D.R. Horton, Inc. (NYSE:DHI) by 11.3% in the third quarter, HoldingsChannel reports. The firm owned 5,315 shares of the construction company’s stock after selling 675 shares during the quarter. Heritage Wealth Management Inc.’s holdings in D.R. Horton were worth $1,014,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DHI. Bfsg LLC increased its stake in shares of D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC increased its position in D.R. Horton by 1,306.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after buying an additional 196 shares in the last quarter. Grove Bank & Trust raised its stake in D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after buying an additional 93 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in D.R. Horton in the second quarter worth $42,000. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Stock Performance

Shares of D.R. Horton stock traded up $0.66 during trading hours on Friday, reaching $168.77. 90,915 shares of the stock traded hands, compared to its average volume of 2,506,117. The company has a 50 day moving average price of $185.40 and a 200 day moving average price of $165.98. D.R. Horton, Inc. has a one year low of $120.10 and a one year high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $54.99 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.57 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.45 earnings per share. On average, equities research analysts expect that D.R. Horton, Inc. will post 15.64 earnings per share for the current fiscal year.

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

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.95%. D.R. Horton’s payout ratio is 11.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DHI shares. Raymond James lowered D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. Evercore ISI decreased their target price on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company cut their price target on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Bank of America raised their price target 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. Finally, JPMorgan Chase & Co. increased their target price on D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $185.87.

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.