Capital Group Investment Management PTE. LTD. Sells 24,318 Shares of D.R. Horton, Inc. (NYSE:DHI)

Capital Group Investment Management PTE. LTD. decreased its holdings in D.R. Horton, Inc. (NYSE:DHI) by 81.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,601 shares of the construction company’s stock after selling 24,318 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in D.R. Horton were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake in D.R. Horton by 1.6% in the first quarter. Advisors Asset Management Inc. now owns 22,081 shares of the construction company’s stock worth $3,633,000 after buying an additional 352 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of D.R. Horton in the 1st quarter worth approximately $274,000. Carlson Capital L P lifted its stake in shares of D.R. Horton by 3.3% in the 1st quarter. Carlson Capital L P now owns 69,710 shares of the construction company’s stock valued at $11,471,000 after purchasing an additional 2,210 shares during the period. CreativeOne Wealth LLC boosted its position in shares of D.R. Horton by 66.9% during the first quarter. CreativeOne Wealth LLC now owns 3,723 shares of the construction company’s stock valued at $613,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in D.R. Horton by 55.4% in the first quarter. Shell Asset Management Co. now owns 5,838 shares of the construction company’s stock worth $961,000 after purchasing an additional 2,082 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Stock Performance

NYSE DHI traded up $4.29 during trading hours on Friday, hitting $176.99. The company’s stock had a trading volume of 3,353,359 shares, compared to its average volume of 2,584,058. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $180.15. The company’s 50 day simple moving average is $147.24 and its two-hundred day simple moving average is $149.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The company has a market cap of $57.71 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the business posted $3.90 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that D.R. Horton, Inc. will post 14.44 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s payout ratio is currently 8.17%.

D.R. Horton announced that its board has approved a stock repurchase program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DHI. Royal Bank of Canada boosted their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday. JMP Securities raised their target price 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. StockNews.com cut D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and cut their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton currently has a consensus rating of “Hold” and a consensus target price of $175.60.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now directly owns 1,703 shares in the company, valued at approximately $256,642.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.74% of the stock is owned by company insiders.

D.R. Horton Profile

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.