Benjamin Edwards Inc. Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Benjamin Edwards Inc. cut its stake in D.R. Horton, Inc. (NYSE:DHI) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,067 shares of the construction company’s stock after selling 198 shares during the period. Benjamin Edwards Inc.’s holdings in D.R. Horton were worth $573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bfsg LLC raised its holdings in D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of D.R. Horton in the first quarter valued at $27,000. RiverPark Advisors LLC acquired a new position in shares of D.R. Horton during the 1st quarter worth $29,000. Riverview Trust Co purchased a new stake in shares of D.R. Horton in the 1st quarter worth about $30,000. Finally, Signature Resources Capital Management LLC acquired a new stake in D.R. Horton in the 2nd quarter valued at about $31,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Price Performance

DHI opened at $191.91 on Friday. D.R. Horton, Inc. has a 1 year low of $100.08 and a 1 year high of $199.85. The company’s 50 day simple moving average is $180.71 and its 200 day simple moving average is $159.35. The stock has a market capitalization of $63.20 billion, a PE 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 quick ratio of 1.30 and a current ratio of 7.22.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $3.90 EPS. As a group, sell-side analysts expect that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

D.R. Horton Dividend Announcement

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio is currently 8.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore ISI upped their price target on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. UBS Group upped their target price on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Barclays increased their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $183.33.

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.