Gateway Investment Advisers LLC Sells 2,612 Shares of D.R. Horton, Inc. (NYSE:DHI)

Gateway Investment Advisers LLC lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 62.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,565 shares of the construction company’s stock after selling 2,612 shares during the period. Gateway Investment Advisers LLC’s holdings in D.R. Horton were worth $221,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of D.R. Horton in the 1st quarter valued at $27,000. RiverPark Advisors LLC bought a new stake in shares of D.R. Horton in the 1st quarter valued at $29,000. Riverview Trust Co bought a new stake in shares of D.R. Horton in the 1st quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in shares of D.R. Horton during the 4th quarter valued at $38,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of D.R. Horton during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DHI has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. JMP Securities boosted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Bank of America increased their target price on D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus target price of $175.60.

D.R. Horton Stock Up 0.1 %

NYSE:DHI traded up $0.24 during trading hours on Friday, hitting $172.97. 2,833,885 shares of the company traded hands, compared to its average volume of 2,586,080. The company has a market cap of $56.96 billion, a PE ratio of 11.77, a PEG ratio of 0.83 and a beta of 1.71. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $185.43. 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 firm’s 50-day simple moving average is $153.83 and its 200-day simple moving average is $150.78.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 EPS. Equities analysts predict that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton announced 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 reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

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.