Burney Co. Sells 18,428 Shares of D.R. Horton, Inc. (NYSE:DHI)

Burney Co. decreased its holdings in D.R. Horton, Inc. (NYSE:DHI) by 81.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,330 shares of the construction company’s stock after selling 18,428 shares during the quarter. Burney Co.’s holdings in D.R. Horton were worth $713,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Atria Investments Inc boosted its holdings in D.R. Horton by 36.1% during the first quarter. Atria Investments Inc now owns 61,729 shares of the construction company’s stock worth $10,157,000 after purchasing an additional 16,386 shares during the last quarter. Swedbank AB purchased a new position in shares of D.R. Horton in the 1st quarter worth approximately $29,541,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of D.R. Horton in the first quarter valued at approximately $440,000. Wahed Invest LLC increased its position in shares of D.R. Horton by 9.9% during the first quarter. Wahed Invest LLC now owns 5,837 shares of the construction company’s stock valued at $960,000 after acquiring an additional 527 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in D.R. Horton by 52.0% during the first quarter. Citizens Financial Group Inc. RI now owns 2,053 shares of the construction company’s stock worth $338,000 after acquiring an additional 702 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

Insider Buying and Selling

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

D.R. Horton Price Performance

D.R. Horton stock traded down $1.43 during midday trading on Friday, reaching $177.62. 3,179,679 shares of the stock were exchanged, compared to its average volume of 3,294,546. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $185.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The firm has a market cap of $57.88 billion, a PE ratio of 12.09, a PEG ratio of 0.83 and a beta of 1.71. The company’s fifty day moving average is $151.03 and its 200-day moving average is $150.09.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.90 earnings per share. On average, sell-side analysts forecast that D.R. Horton, Inc. will post 14.04 EPS for the current year.

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

D.R. Horton Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. JMP Securities boosted 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. Keefe, Bruyette & Woods increased their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada lifted their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Finally, Wedbush reissued an “underperform” rating and set a $130.00 price objective on shares of D.R. Horton in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, D.R. Horton presently has a consensus rating of “Hold” and an average target price of $175.60.

D.R. Horton Company 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.