Heritage Wealth Management Inc. Sells 675 Shares of D.R. Horton, Inc. (NYSE:DHI)

Heritage Wealth Management Inc. lessened its holdings in D.R. Horton, Inc. (NYSE:DHI) by 11.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,315 shares of the construction company’s stock after selling 675 shares during the period. Heritage Wealth Management Inc.’s holdings in D.R. Horton were worth $1,014,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norden Group LLC bought a new stake in shares of D.R. Horton during the 1st quarter valued at about $449,000. Manchester Capital Management LLC lifted its position in D.R. Horton by 631.9% during the first quarter. Manchester Capital Management LLC now owns 849 shares of the construction company’s stock valued at $140,000 after purchasing an additional 733 shares during the last quarter. Advisory Services Network LLC grew its stake in D.R. Horton by 35.2% in the 1st quarter. Advisory Services Network LLC now owns 24,725 shares of the construction company’s stock worth $4,069,000 after buying an additional 6,435 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of D.R. Horton in the 1st quarter worth $2,009,000. Finally, Forsta AP Fonden raised its position in shares of D.R. Horton by 8.8% during the 1st quarter. Forsta AP Fonden now owns 59,200 shares of the construction company’s stock valued at $9,741,000 after buying an additional 4,800 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on DHI shares. Evercore ISI reduced their target price on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Raymond James cut D.R. Horton from an “outperform” rating to a “market perform” rating in a report on Thursday. Wells Fargo & Company cut their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup decreased their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $185.87.

D.R. Horton Trading Up 0.4 %

Shares of D.R. Horton stock traded up $0.66 during trading on Friday, reaching $168.77. 90,915 shares of the stock were exchanged, compared to its average volume of 2,506,117. 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 cap of $54.99 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 1 year low of $120.10 and a 1 year high of $199.85. The stock’s fifty day moving average is $185.40 and its 200 day moving average is $165.98.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter last year, the business posted $4.45 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect 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. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.40 per share. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s payout ratio is presently 11.14%.

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.

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.