Park National Corp OH Sells 26,793 Shares of D.R. Horton, Inc. (NYSE:DHI)

Park National Corp OH cut its stake in D.R. Horton, Inc. (NYSE:DHI) by 12.1% in the third quarter, HoldingsChannel.com reports. The fund owned 195,374 shares of the construction company’s stock after selling 26,793 shares during the period. D.R. Horton makes up 1.3% of Park National Corp OH’s investment portfolio, making the stock its 19th largest position. Park National Corp OH’s holdings in D.R. Horton were worth $37,271,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new stake in D.R. Horton in the first quarter worth $1,249,000. Vinva Investment Management Ltd raised its stake in D.R. Horton by 59.3% during the 4th quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock worth $12,537,000 after buying an additional 30,186 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in D.R. Horton by 85.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after acquiring an additional 16,252 shares in the last quarter. Alaska Permanent Fund Corp lifted its holdings in D.R. Horton by 312.0% during the first quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock worth $1,934,000 after acquiring an additional 8,902 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in D.R. Horton by 107.6% in the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after acquiring an additional 7,699 shares during the period. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Down 1.1 %

Shares of DHI stock opened at $190.56 on Thursday. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85. The stock has a market cap of $62.75 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.89 and a beta of 1.73. The firm’s 50-day moving average is $184.33 and its 200-day moving average is $161.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the prior year, the company earned $3.90 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio is presently 8.17%.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DHI. 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. Keefe, Bruyette & Woods raised their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. UBS Group raised their price target on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Bank of America boosted their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Two 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $183.33.

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.