QS Investors LLC decreased its holdings in D. R. Horton Inc (NYSE:DHI) by 26.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,605 shares of the construction company’s stock after selling 3,460 shares during the quarter. QS Investors LLC’s holdings in D. R. Horton were worth $332,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in DHI. Teachers Advisors LLC lifted its position in D. R. Horton by 51.2% in the 1st quarter. Teachers Advisors LLC now owns 945,698 shares of the construction company’s stock valued at $31,501,000 after acquiring an additional 320,054 shares in the last quarter. Ngam Advisors L.P. lifted its position in shares of D. R. Horton by 0.6% during the 1st quarter. Ngam Advisors L.P. now owns 23,371 shares of the construction company’s stock worth $778,000 after buying an additional 150 shares in the last quarter. Cleararc Capital Inc. lifted its position in shares of D. R. Horton by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 8,293 shares of the construction company’s stock worth $276,000 after buying an additional 59 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in shares of D. R. Horton by 118.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 64,950 shares of the construction company’s stock worth $2,163,000 after buying an additional 35,210 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of D. R. Horton during the 1st quarter worth approximately $420,000. 82.40% of the stock is currently owned by institutional investors and hedge funds.
D. R. Horton Inc (NYSE DHI) traded up 0.68% during midday trading on Friday, hitting $44.30. 2,482,695 shares of the stock traded hands. The stock has a 50-day moving average of $39.46 and a 200 day moving average of $35.84. D. R. Horton Inc has a 52-week low of $26.69 and a 52-week high of $44.40. The firm has a market cap of $16.58 billion, a PE ratio of 16.60 and a beta of 1.24.
D. R. Horton (NYSE:DHI) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. D. R. Horton had a net margin of 7.65% and a return on equity of 15.82%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities analysts forecast that D. R. Horton Inc will post $2.74 EPS for the current year.
D. R. Horton declared that its board has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In related news, Director Michael W. Hewatt sold 4,000 shares of D. R. Horton stock in a transaction on Friday, September 8th. The shares were sold at an average price of $36.11, for a total value of $144,440.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $288,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Buchanan sold 9,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $37.06, for a total value of $333,540.00. Following the completion of the sale, the director now directly owns 24,880 shares of the company’s stock, valued at approximately $922,052.80. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $852,580 over the last quarter. 7.20% of the stock is currently owned by insiders.
DHI has been the topic of several recent analyst reports. BidaskClub cut shares of D. R. Horton from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Bank of America Corporation raised their price target on shares of D. R. Horton from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. UBS AG assumed coverage on shares of D. R. Horton in a research note on Wednesday. They issued a “buy” rating and a $50.00 price objective for the company. KeyCorp boosted their price target on shares of D. R. Horton from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $62.00 price objective (up from $41.00) on shares of D. R. Horton in a report on Monday, October 23rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. D. R. Horton currently has an average rating of “Buy” and a consensus price target of $41.56.
About D. R. Horton
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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