D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its stake in D.R. Horton, Inc. (NYSE:DHI) by 53.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,195 shares of the construction company’s stock after selling 23,214 shares during the period. Great Lakes Advisors LLC’s holdings in D.R. Horton were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. grew its holdings in shares of D.R. Horton by 2.1% during the second quarter. Cullen Frost Bankers Inc. now owns 112,142 shares of the construction company’s stock worth $15,804,000 after buying an additional 2,317 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of D.R. Horton by 1.2% during the second quarter. Lake Street Advisors Group LLC now owns 10,372 shares of the construction company’s stock worth $1,462,000 after purchasing an additional 122 shares during the period. Howard Capital Management Inc. acquired a new stake in shares of D.R. Horton during the second quarter worth $355,000. Candriam S.C.A. grew its position in D.R. Horton by 15.6% in the 2nd quarter. Candriam S.C.A. now owns 20,520 shares of the construction company’s stock valued at $2,892,000 after buying an additional 2,770 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in D.R. Horton by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 86,577 shares of the construction company’s stock valued at $12,201,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DHI. JPMorgan Chase & Co. lifted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JMP Securities lifted their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wells Fargo & Company raised their target price on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $182.07.

D.R. Horton Stock Performance

NYSE DHI opened at $187.52 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $61.10 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. D.R. Horton, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $193.63. The business has a fifty day moving average of $171.27 and a 200-day moving average of $156.72.

D.R. Horton (NYSE:DHI) last released its 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. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates 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 firm earned $3.90 EPS. As a group, analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

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

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.64%. D.R. Horton’s payout ratio is currently 8.17%.

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.