Fisher Asset Management LLC Reduces Stake in D.R. Horton, Inc. (NYSE:DHI)

Fisher Asset Management LLC lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 232,632 shares of the construction company’s stock after selling 743 shares during the quarter. Fisher Asset Management LLC’s holdings in D.R. Horton were worth $44,379,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in D.R. Horton by 11.4% during the third quarter. Daiwa Securities Group Inc. now owns 36,357 shares of the construction company’s stock valued at $6,936,000 after acquiring an additional 3,718 shares in the last quarter. Capital Investment Counsel LLC grew its position in shares of D.R. Horton by 2.3% during the 3rd quarter. Capital Investment Counsel LLC now owns 44,896 shares of the construction company’s stock valued at $8,565,000 after purchasing an additional 999 shares in the last quarter. Alpha DNA Investment Management LLC increased its holdings in shares of D.R. Horton by 13.0% in the third quarter. Alpha DNA Investment Management LLC now owns 5,451 shares of the construction company’s stock worth $1,040,000 after purchasing an additional 627 shares during the period. Swedbank AB raised its position in shares of D.R. Horton by 87.3% in the third quarter. Swedbank AB now owns 336,269 shares of the construction company’s stock worth $64,150,000 after buying an additional 156,735 shares in the last quarter. Finally, Pitcairn Co. increased its stake in D.R. Horton by 5.2% in the 3rd quarter. Pitcairn Co. now owns 2,081 shares of the construction company’s stock worth $397,000 after acquiring an additional 102 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Price Performance

DHI stock opened at $168.68 on Wednesday. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $178.80 and its two-hundred day moving average price is $167.89. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.59 and a beta of 1.74. D.R. Horton, Inc. has a 12-month low of $125.28 and a 12-month high of $199.85.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The business had revenue of $10 billion for 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 company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.45 EPS. As a group, equities analysts predict that D.R. Horton, Inc. will post 14.4 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.60 annualized dividend and a yield of 0.95%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s payout ratio is 11.14%.

Insider Buying and Selling at D.R. Horton

In other news, Director Barbara K. Allen sold 5,650 shares of D.R. Horton stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DHI. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada lowered their price objective on shares of 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. Bank of America upped their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Citigroup dropped their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.