Proficio Capital Partners LLC Cuts Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Proficio Capital Partners LLC cut its holdings in D.R. Horton, Inc. (NYSE:DHI) by 32.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,179 shares of the construction company’s stock after selling 575 shares during the period. Proficio Capital Partners LLC’s holdings in D.R. Horton were worth $225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after acquiring an additional 987,834 shares during the period. Principal Financial Group Inc. raised its holdings in shares of D.R. Horton by 51.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares during the last quarter. Long Pond Capital LP boosted its holdings in D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after purchasing an additional 537,276 shares during the last quarter. Finally, National Bank of Canada FI grew its position in D.R. Horton by 265.6% in the 1st quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after purchasing an additional 354,789 shares during the period. 90.63% of the stock is owned by institutional investors.

D.R. Horton Trading Up 0.4 %

Shares of DHI opened at $168.79 on Monday. The firm has a market cap of $55.00 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. D.R. Horton, Inc. has a 1 year low of $120.10 and a 1 year high of $199.85. The company has a 50 day simple moving average of $184.62 and a two-hundred day simple moving average of $166.30.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). The company had revenue of $10 billion for 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%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.45 earnings per share. On average, equities analysts expect that D.R. Horton, Inc. will post 15.54 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is currently 8.36%.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on DHI shares. Barclays lowered their price target on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BTIG Research dropped their target price on 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. Evercore ISI cut their price target on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citigroup lowered their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.