D.R. Horton, Inc. (NYSE:DHI) Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in D.R. Horton, Inc. (NYSE:DHI) by 12.7% during the third quarter, Holdings Channel reports. The firm owned 349,775 shares of the construction company’s stock after selling 50,967 shares during the period. Victory Capital Management Inc.’s holdings in D.R. Horton were worth $66,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DHI. 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 during the last quarter. Greenhaven Associates Inc. lifted 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 valued at $517,198,000 after buying an additional 81,900 shares in the last quarter. Earnest Partners LLC lifted its stake in 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 buying an additional 9,137 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of D.R. Horton by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock worth $339,174,000 after acquiring an additional 120,892 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of D.R. Horton by 6.0% during the third quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock valued at $211,507,000 after acquiring an additional 62,971 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Stock Up 1.7 %

DHI stock opened at $163.81 on Friday. The firm has a market cap of $53.38 billion, a PE ratio of 11.41, a PEG ratio of 0.57 and a beta of 1.74. D.R. Horton, Inc. has a 1 year low of $125.28 and a 1 year high of $199.85. The company has a fifty day simple moving average of $183.29 and a 200 day simple moving average of $166.68. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.45 EPS. Sell-side analysts anticipate that D.R. Horton, Inc. will post 14.92 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The business 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 0.98%. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 11.14%.

D.R. Horton announced that its Board of Directors has authorized a share buyback program on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on DHI. Evercore ISI decreased their price objective on shares of 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. BTIG Research lowered their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America upped their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Citigroup lowered their target price on 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, JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.87.

D.R. Horton 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.