Park Avenue Securities LLC Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Park Avenue Securities LLC decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 17.2% in the third quarter, Holdings Channel reports. The institutional investor owned 25,289 shares of the construction company’s stock after selling 5,255 shares during the quarter. Park Avenue Securities LLC’s holdings in D.R. Horton were worth $4,824,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in D.R. Horton by 7.6% during 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 position in shares of D.R. Horton by 1,761.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after acquiring an additional 987,834 shares in the last quarter. Principal Financial Group Inc. raised its holdings in 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 acquiring an additional 561,337 shares during the last quarter. Long Pond Capital LP lifted its position in D.R. Horton by 438.6% in the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after acquiring an additional 537,276 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in D.R. Horton by 62.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after purchasing an additional 525,705 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

D.R. Horton Stock Performance

NYSE:DHI traded down $5.57 during mid-day trading on Friday, hitting $184.64. 2,542,256 shares of the company traded hands, compared to its average volume of 2,473,046. 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’s fifty day moving average price is $184.83 and its 200-day moving average price is $161.93. The firm has a market cap of $60.80 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.72. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $199.85.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data 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. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the company posted $3.90 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. Research analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

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

D.R. Horton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. D.R. Horton’s payout ratio is 8.17%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DHI shares. JMP Securities boosted their price target on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Barclays upped their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. UBS Group boosted their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company raised their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, D.R. Horton presently has a consensus rating of “Hold” and an average target price of $183.33.

D.R. Horton 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.