Washington Trust Bank Reduces Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Washington Trust Bank lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 9.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,417 shares of the construction company’s stock after selling 251 shares during the quarter. Washington Trust Bank’s holdings in D.R. Horton were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC bought a new position in D.R. Horton during the first quarter valued at $449,000. Manchester Capital Management LLC grew its holdings in D.R. Horton by 631.9% during the 1st quarter. Manchester Capital Management LLC now owns 849 shares of the construction company’s stock valued at $140,000 after purchasing an additional 733 shares during the last quarter. Advisory Services Network LLC raised its position in D.R. Horton by 35.2% in the 1st quarter. Advisory Services Network LLC now owns 24,725 shares of the construction company’s stock worth $4,069,000 after purchasing an additional 6,435 shares during the period. Concord Investment Counsel Inc. bought a new stake in D.R. Horton in the first quarter worth about $4,161,000. Finally, Empirical Finance LLC boosted its position in shares of D.R. Horton by 2.4% during the first quarter. Empirical Finance LLC now owns 15,799 shares of the construction company’s stock valued at $2,600,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Down 0.2 %

Shares of NYSE:DHI traded down $0.27 on Thursday, reaching $166.44. The company had a trading volume of 73,137 shares, compared to its average volume of 2,506,616. 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 has a market capitalization of $54.23 billion, a PE ratio of 11.61, a PEG ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 52-week low of $120.10 and a 52-week high of $199.85. The firm’s 50 day simple moving average is $185.40 and its 200-day simple moving average is $165.98.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.17 by ($0.25). The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. D.R. Horton’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.45 EPS. As a group, analysts expect that D.R. Horton, Inc. will post 15.64 earnings per share for the current fiscal year.

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

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.96%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is 8.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Bank of America lifted their target price on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup decreased their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, BTIG Research reduced their target price on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $185.87.

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.