Retirement Systems of Alabama Sells 534 Shares of D.R. Horton, Inc. (NYSE:DHI)

Retirement Systems of Alabama decreased its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,379 shares of the construction company’s stock after selling 534 shares during the period. Retirement Systems of Alabama’s holdings in D.R. Horton were worth $9,214,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in D.R. Horton by 515.5% in the fourth quarter. International Assets Investment Management LLC now owns 157,147 shares of the construction company’s stock valued at $23,883,000 after purchasing an additional 131,616 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new position in shares of D.R. Horton during the 4th quarter valued at $248,000. Alaska Permanent Fund Corp bought a new position in shares of D.R. Horton during the 4th quarter worth $434,000. Bryn Mawr Capital Management LLC purchased a new stake in D.R. Horton in the 4th quarter worth about $410,000. Finally, Kovack Advisors Inc. bought a new stake in D.R. Horton in the 4th quarter valued at about $362,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on DHI shares. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and cut their target price for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. JMP Securities lifted their price objective 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. Bank of America increased their target price on D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Barclays raised their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, StockNews.com lowered D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $175.60.

D.R. Horton Trading Up 3.3 %

Shares of DHI opened at $191.79 on Friday. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $192.41. The company has a market capitalization of $63.16 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.83 and a beta of 1.71. 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 firm’s 50 day simple moving average is $161.17 and its 200 day simple moving average is $153.36.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the company posted $3.90 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

D.R. Horton declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are 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.