Heritage Investors Management Corp Sells 450 Shares of D.R. Horton, Inc. (NYSE:DHI)

Heritage Investors Management Corp lowered its holdings in D.R. Horton, Inc. (NYSE:DHI) by 10.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,050 shares of the construction company’s stock after selling 450 shares during the quarter. Heritage Investors Management Corp’s holdings in D.R. Horton were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DHI. Norden Group LLC bought a new stake in shares of D.R. Horton in the first quarter valued at approximately $449,000. Catalina Capital Group LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $208,000. Signaturefd LLC grew its stake in D.R. Horton by 5.1% during the first quarter. Signaturefd LLC now owns 9,808 shares of the construction company’s stock valued at $1,614,000 after acquiring an additional 472 shares in the last quarter. Team Hewins LLC grew its stake in D.R. Horton by 4.6% during the first quarter. Team Hewins LLC now owns 2,288 shares of the construction company’s stock valued at $376,000 after acquiring an additional 100 shares in the last quarter. Finally, WBI Investments LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $290,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 1.5 %

NYSE:DHI opened at $173.25 on Wednesday. The company has a fifty day moving average of $185.82 and a 200 day moving average of $165.98. D.R. Horton, Inc. has a 52 week low of $116.22 and a 52 week high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $56.45 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the prior year, the company earned $4.45 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that D.R. Horton, Inc. will post 15.64 earnings per share for the current year.

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

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is currently 8.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods boosted 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. Citigroup cut their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Evercore ISI cut their price target on shares of 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, Barclays cut their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.87.

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.