Public Employees Retirement Association of Colorado Cuts Holdings in D.R. Horton, Inc. (NYSE:DHI)

Public Employees Retirement Association of Colorado reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 375,413 shares of the construction company’s stock after selling 15,404 shares during the period. Public Employees Retirement Association of Colorado’s holdings in D.R. Horton were worth $52,490,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nemes Rush Group LLC raised its holdings in D.R. Horton by 74.5% in the 4th quarter. Nemes Rush Group LLC now owns 192 shares of the construction company’s stock worth $27,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC acquired a new stake in D.R. Horton in the fourth quarter valued at approximately $30,000. Rosenberg Matthew Hamilton increased its position in shares of D.R. Horton by 152.8% in the fourth quarter. Rosenberg Matthew Hamilton now owns 273 shares of the construction company’s stock valued at $38,000 after buying an additional 165 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of D.R. Horton during the 4th quarter worth approximately $38,000. Finally, Sierra Ocean LLC purchased a new position in shares of D.R. Horton during the 4th quarter valued at approximately $43,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DHI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of D.R. Horton from $165.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on shares of D.R. Horton from $125.00 to $105.00 and set an “underperform” rating for the company in a research note on Monday, April 21st. StockNews.com lowered shares of D.R. Horton from a “hold” rating to a “sell” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price objective on D.R. Horton from $132.00 to $111.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Finally, BTIG Research reduced their target price on D.R. Horton from $171.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $151.15.

D.R. Horton Stock Down 1.1 %

Shares of DHI opened at $124.69 on Friday. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $199.85. The company has a quick ratio of 1.09, a current ratio of 6.92 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $125.87 and a two-hundred day simple moving average of $144.82. The company has a market capitalization of $38.30 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.11). D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The firm had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the company posted $3.52 EPS. As a group, equities analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, May 2nd. D.R. Horton’s payout ratio is presently 12.11%.

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.