Frank Rimerman Advisors LLC Reduces Stake in D.R. Horton, Inc. (NYSE:DHI)

Frank Rimerman Advisors LLC trimmed its stake in D.R. Horton, Inc. (NYSE:DHI) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,363 shares of the construction company’s stock after selling 136 shares during the period. Frank Rimerman Advisors LLC’s holdings in D.R. Horton were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after buying an additional 987,834 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of D.R. Horton by 51.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after purchasing an additional 561,337 shares during the period. Long Pond Capital LP raised its holdings in D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of D.R. Horton by 265.6% during the 1st quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock valued at $73,239,000 after acquiring an additional 354,789 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Up 0.6 %

Shares of NYSE:DHI opened at $180.38 on Tuesday. D.R. Horton, Inc. has a 52 week low of $100.94 and a 52 week high of $199.85. The company has a market capitalization of $59.40 billion, a PE ratio of 12.28, a PEG ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The company has a 50 day moving average price of $187.87 and a two-hundred day moving average price of $165.01.

D.R. Horton declared that its Board of Directors has approved a stock buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DHI. Wells Fargo & Company boosted their price target on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. UBS Group increased their target price on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Wedbush upgraded 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, Bank of America lifted their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.67.

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.