Tectonic Advisors LLC Reduces Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Tectonic Advisors LLC cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,744 shares of the construction company’s stock after selling 172 shares during the period. Tectonic Advisors LLC’s holdings in D.R. Horton were worth $1,477,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DHI. Vanguard Group Inc. lifted its holdings in D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Greenhaven Associates Inc. boosted its stake in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after buying an additional 81,900 shares during the period. Earnest Partners LLC boosted its stake in D.R. Horton by 0.4% during the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock worth $290,901,000 after buying an additional 9,137 shares during the period. Principal Financial Group Inc. boosted its stake in shares of D.R. Horton by 51.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Stock Performance

DHI opened at $182.69 on Friday. The firm has a market cap of $60.16 billion, a PE ratio of 12.44, a P/E/G ratio of 0.78 and a beta of 1.72. 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 business has a fifty day simple moving average of $187.72 and a 200-day simple moving average of $164.36. D.R. Horton, Inc. has a fifty-two week low of $100.29 and a fifty-two week high of $199.85.

D.R. Horton announced that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of recent research reports. Barclays lifted their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. UBS Group lifted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Finally, JMP Securities boosted their price objective on shares of 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. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.67.

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.