Wells Fargo & Company Cuts D.R. Horton (NYSE:DHI) Price Target to $190.00

D.R. Horton (NYSE:DHI) had its price objective lowered by Wells Fargo & Company from $220.00 to $190.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JMP Securities lifted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. UBS Group lifted their price objective on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of “Moderate Buy” and an average target price of $185.33.

D.R. Horton Stock Down 0.8 %

DHI opened at $167.61 on Wednesday. D.R. Horton has a 52 week low of $111.59 and a 52 week high of $199.85. The business has a 50 day moving average price of $186.47 and a two-hundred day moving average price of $165.31. The company has a quick ratio of 1.30, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The company has a market cap of $54.61 billion, a PE ratio of 11.67, a P/E/G ratio of 0.57 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results 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 company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the business earned $4.45 earnings per share. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts anticipate that D.R. Horton will post 15.87 EPS for the current year.

D.R. Horton Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s payout ratio is 8.36%.

D.R. Horton announced that its board has authorized a stock repurchase program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHI. Vanguard Group Inc. lifted its stake in D.R. Horton by 7.6% in 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 buying an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in shares of 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 valued at $517,198,000 after buying an additional 81,900 shares during the last quarter. Earnest Partners LLC grew its holdings in D.R. Horton by 0.4% in the 2nd 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 in the last quarter. Principal Financial Group Inc. increased its position in D.R. Horton by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock valued at $339,174,000 after acquiring an additional 120,892 shares during the period. Finally, National Pension Service raised its stake in D.R. Horton by 6.0% during the 3rd quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock valued at $211,507,000 after acquiring an additional 62,971 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

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.