D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,659 shares of the construction company’s stock after selling 13,095 shares during the period. Texas Permanent School Fund Corp’s holdings in D.R. Horton were worth $6,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Choreo LLC grew its position in D.R. Horton by 116.1% in the second quarter. Choreo LLC now owns 18,905 shares of the construction company’s stock worth $2,594,000 after buying an additional 10,158 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of D.R. Horton in the 2nd quarter worth $68,000. Ballentine Partners LLC raised its position in shares of D.R. Horton by 5.8% during the second quarter. Ballentine Partners LLC now owns 3,449 shares of the construction company’s stock worth $486,000 after purchasing an additional 188 shares during the period. Caprock Group LLC lifted its holdings in shares of D.R. Horton by 37.8% during the second quarter. Caprock Group LLC now owns 7,639 shares of the construction company’s stock valued at $1,077,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Custom Index Systems LLC purchased a new position in D.R. Horton in the 2nd quarter worth about $380,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DHI shares. StockNews.com lowered shares of D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Evercore ISI raised their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Barclays lifted their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JMP Securities increased their target price 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. Finally, Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, D.R. Horton currently has an average rating of “Hold” and a consensus target price of $182.07.

D.R. Horton Stock Performance

Shares of DHI opened at $185.16 on Thursday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $193.63. The company’s fifty day moving average is $173.30 and its 200-day moving average is $157.21. The firm has a market cap of $60.98 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73.

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

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.65%. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

D.R. Horton Company 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.