American Century Companies Inc. Sells 59,904 Shares of D.R. Horton, Inc. (NYSE:DHI)

American Century Companies Inc. lessened its stake in D.R. Horton, Inc. (NYSE:DHI) by 31.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,353 shares of the construction company’s stock after selling 59,904 shares during the quarter. American Century Companies Inc.’s holdings in D.R. Horton were worth $18,089,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of D.R. Horton in the first quarter valued at $27,000. RiverPark Advisors LLC bought a new stake in D.R. Horton during the first quarter worth about $29,000. Bfsg LLC lifted its stake in shares of D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after acquiring an additional 74 shares during the last quarter. Riverview Trust Co bought a new stake in shares of D.R. Horton in the 1st quarter valued at about $30,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of D.R. Horton in the 2nd quarter valued at about $31,000. Institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

DHI has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Barclays boosted their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Evercore ISI upped their price objective on D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Bank of America increased their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company increased their price target on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $183.33.

D.R. Horton Stock Down 2.6 %

Shares of NYSE DHI opened at $191.91 on Friday. The company has a 50 day simple moving average of $180.71 and a 200-day simple moving average of $159.35. The company has a market capitalization of $63.20 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.86 and a beta of 1.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the company earned $3.90 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton announced that its board has approved a share repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire 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 shares are undervalued.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s payout ratio is 8.17%.

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.