Apollon Wealth Management LLC Sells 2,184 Shares of D.R. Horton, Inc. (NYSE:DHI)

Apollon Wealth Management LLC lowered its holdings in D.R. Horton, Inc. (NYSE:DHI) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,153 shares of the construction company’s stock after selling 2,184 shares during the quarter. Apollon Wealth Management LLC’s holdings in D.R. Horton were worth $3,463,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DHI. Vanguard Group Inc. raised its holdings in shares of D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares in the last quarter. Greenhaven Associates Inc. raised its stake in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after acquiring an additional 81,900 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of D.R. Horton by 0.4% during the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after acquiring an additional 9,137 shares during the period. Principal Financial Group Inc. boosted its stake in shares of D.R. Horton by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock valued at $339,174,000 after purchasing an additional 120,892 shares in the last quarter. Finally, National Pension Service increased its position in shares of D.R. Horton by 6.0% during the 3rd quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock worth $211,507,000 after purchasing an additional 62,971 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Down 3.1 %

NYSE:DHI opened at $161.86 on Wednesday. The stock’s fifty day simple moving average is $184.20 and its 200-day simple moving average is $166.61. The firm has a market capitalization of $52.74 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.57 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12-month low of $121.16 and a 12-month high of $199.85.

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). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the previous year, the firm posted $4.45 earnings per share. D.R. Horton’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts expect that D.R. Horton, Inc. will post 15.01 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is currently 11.14%.

D.R. Horton announced that its Board of Directors has approved a stock buyback 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 buy up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DHI shares. Citigroup decreased 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. Wells Fargo & Company dropped their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays reduced their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. BTIG Research lowered their target price on D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Raymond James downgraded shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. One 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.87.

About D.R. Horton

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.