D.R. Horton, Inc. (NYSE:DHI) Stock Position Lowered by Foster & Motley Inc.

Foster & Motley Inc. reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 5.2% during the third quarter, Holdings Channel.com reports. The fund owned 62,310 shares of the construction company’s stock after selling 3,385 shares during the quarter. D.R. Horton accounts for approximately 0.8% of Foster & Motley Inc.’s investment portfolio, making the stock its 28th largest position. Foster & Motley Inc.’s holdings in D.R. Horton were worth $11,887,000 as of its most recent SEC filing.

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

D.R. Horton Trading Up 1.5 %

NYSE DHI opened at $173.25 on Wednesday. D.R. Horton, Inc. has a one year low of $116.22 and a one year high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. The firm has a market cap 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. The stock’s 50-day moving average is $185.82 and its 200-day moving average is $165.98.

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

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is presently 8.36%.

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

Analyst Upgrades and Downgrades

DHI has been the topic of several research analyst reports. Citigroup lowered their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. JMP Securities boosted their price target on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Barclays reduced their target price on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price target on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.87.

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.