Gateway Investment Advisers LLC Sells 206 Shares of D.R. Horton, Inc. (NYSE:DHI)

Gateway Investment Advisers LLC reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359 shares of the construction company’s stock after selling 206 shares during the period. Gateway Investment Advisers LLC’s holdings in D.R. Horton were worth $259,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Bfsg LLC lifted its stake in shares of D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after buying an additional 74 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of D.R. Horton during the 1st quarter valued at approximately $27,000. RiverPark Advisors LLC purchased a new stake in shares of D.R. Horton during the 1st quarter valued at approximately $29,000. Riverview Trust Co purchased a new stake in shares of D.R. Horton during the 1st quarter valued at approximately $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton during the 2nd quarter valued at approximately $31,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Down 0.3 %

DHI stock opened at $182.82 on Monday. 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 twelve month low of $100.08 and a twelve month high of $199.85. The stock has a market capitalization of $60.20 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. The firm’s fifty day simple moving average is $185.36 and its two-hundred day simple moving average is $162.83.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the business posted $3.90 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

D.R. Horton declared that its board has approved a share buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada upped their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price target 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.