Wellington Management Group LLP Cuts Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Wellington Management Group LLP lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 97.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,736 shares of the construction company’s stock after selling 2,040,436 shares during the quarter. Wellington Management Group LLP’s holdings in D.R. Horton were worth $8,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management bought a new position in D.R. Horton during the second quarter valued at approximately $1,856,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of D.R. Horton during the 2nd quarter worth approximately $458,000. Apollon Wealth Management LLC boosted its position in shares of D.R. Horton by 16.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 20,337 shares of the construction company’s stock valued at $2,866,000 after acquiring an additional 2,828 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of D.R. Horton by 5.3% in the second quarter. First Horizon Advisors Inc. now owns 1,417 shares of the construction company’s stock valued at $200,000 after purchasing an additional 71 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in D.R. Horton by 14.0% in the second quarter. First Citizens Bank & Trust Co. now owns 1,591 shares of the construction company’s stock worth $224,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Barbara K. Allen sold 5,650 shares of D.R. Horton stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $163.10, for a total value of $921,515.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.74% of the stock is owned by insiders.

D.R. Horton Stock Down 0.9 %

NYSE:DHI opened at $149.87 on Monday. The company has a market cap of $48.13 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71. D.R. Horton, Inc. has a twelve month low of $133.02 and a twelve month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $171.02 and a 200-day simple moving average of $169.15.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.45 EPS. Analysts anticipate that D.R. Horton, Inc. will post 14.17 EPS for the current year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.40 dividend. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.07%. D.R. Horton’s payout ratio is presently 11.14%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DHI. JPMorgan Chase & Co. lowered shares of D.R. Horton from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $188.00 to $156.00 in a research report on Friday. Keefe, Bruyette & Woods downgraded shares of D.R. Horton from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $200.00 to $183.00 in a report on Tuesday, December 10th. Citigroup reduced their price objective on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI lowered their price objective on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.60.

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.