Summit Global Investments Reduces Stake in D.R. Horton, Inc. (NYSE:DHI)

Summit Global Investments decreased its position in D.R. Horton, Inc. (NYSE:DHI) by 31.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 62,635 shares of the construction company’s stock after selling 29,104 shares during the period. Summit Global Investments’ holdings in D.R. Horton were worth $8,827,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of D.R. Horton during the 1st quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new position in shares of D.R. Horton in the first quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in shares of D.R. Horton during the first quarter valued at approximately $30,000. Signature Resources Capital Management LLC acquired a new stake in D.R. Horton during the second quarter worth approximately $31,000. Finally, Private Wealth Management Group LLC purchased a new stake in D.R. Horton in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DHI. UBS Group raised their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays lifted their price target on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JMP Securities raised 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 report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price 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. Finally, Keefe, Bruyette & Woods increased their price target 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, July 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus price target of $175.60.

D.R. Horton Stock Down 1.0 %

NYSE:DHI traded down $1.84 on Tuesday, reaching $179.61. The stock had a trading volume of 1,448,687 shares, compared to its average volume of 2,552,050. The company has a 50-day moving average of $158.49 and a 200 day moving average of $152.50. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The stock has a market cap of $59.15 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. D.R. Horton, Inc. has a 12-month low of $100.08 and a 12-month high of $185.43.

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

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.67%. D.R. Horton’s payout ratio is 8.17%.

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

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.