Canada Pension Plan Investment Board Sells 10,988 Shares of D.R. Horton, Inc. (NYSE:DHI)

Canada Pension Plan Investment Board cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 404,980 shares of the construction company’s stock after selling 10,988 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of D.R. Horton worth $57,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Premier Path Wealth Partners LLC lifted its position in shares of D.R. Horton by 1.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock valued at $872,000 after acquiring an additional 59 shares during the period. Coldstream Capital Management Inc. increased its holdings in D.R. Horton by 1.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock valued at $739,000 after buying an additional 60 shares during the period. Whittier Trust Co. increased its holdings in D.R. Horton by 1.7% in the 2nd quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after buying an additional 63 shares during the period. Values First Advisors Inc. raised its position in shares of D.R. Horton by 0.7% in the 2nd quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock valued at $1,251,000 after buying an additional 66 shares in the last quarter. Finally, Studio Investment Management LLC boosted its position in shares of D.R. Horton by 0.3% during the 2nd quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company’s stock worth $3,350,000 after acquiring an additional 70 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on DHI. UBS Group boosted their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Bank of America boosted their price target on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday. Barclays lifted their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Evercore ISI increased their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Stock Performance

Shares of DHI stock opened at $191.89 on Friday. 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 one year low of $100.08 and a one year high of $199.85. The business’s 50 day simple moving average is $180.71 and its 200 day simple moving average is $159.41. The stock has a market capitalization of $63.19 billion, a PE ratio of 13.06, a PEG ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.90 earnings per share. As a group, research analysts forecast that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Announces Dividend

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

D.R. Horton declared that its board has initiated a share repurchase 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 repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.