State of Michigan Retirement System Lowers Position in D.R. Horton, Inc. (NYSE:DHI)

State of Michigan Retirement System trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,899 shares of the construction company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in D.R. Horton were worth $19,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in D.R. Horton in the 4th quarter valued at $516,530,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of D.R. Horton by 62.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock valued at $207,864,000 after purchasing an additional 525,705 shares during the period. Pacer Advisors Inc. raised its position in D.R. Horton by 21.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,714,195 shares of the construction company’s stock valued at $412,503,000 after purchasing an additional 484,058 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of D.R. Horton by 1,719.1% in the 4th quarter. Panagora Asset Management Inc. now owns 429,445 shares of the construction company’s stock worth $65,267,000 after buying an additional 405,838 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of D.R. Horton by 283.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 457,433 shares of the construction company’s stock worth $69,521,000 after buying an additional 338,282 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Down 1.3 %

D.R. Horton stock opened at $135.19 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.38. The stock has a market capitalization of $44.52 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.71. The business has a 50 day simple moving average of $144.98 and a 200-day simple moving average of $148.51. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $165.75.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, April 18th. The construction company reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.44. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.15 billion. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.73 EPS. On average, analysts anticipate that D.R. Horton, Inc. will post 14.26 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, May 2nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, May 1st. D.R. Horton’s payout ratio is 8.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of D.R. Horton from $182.00 to $168.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $181.00 to $156.00 in a research note on Tuesday. Royal Bank of Canada cut their target price on D.R. Horton from $142.00 to $141.00 and set an “underperform” rating on the stock in a research note on Friday, April 19th. BTIG Research decreased their price target on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, UBS Group raised their price target on shares of D.R. Horton from $192.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $156.75.

Insiders Place Their Bets

In related news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $150.70, for a total value of $301,400.00. Following the completion of the transaction, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other D.R. Horton news, Director Barbara K. Allen sold 363 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total value of $53,890.98. Following the transaction, the director now directly owns 5,650 shares in the company, valued at approximately $838,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the completion of the transaction, the director now owns 1,703 shares in the company, valued at $256,642.10. The disclosure for this sale can be found here. 1.74% of the stock is owned by company insiders.

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.