Park Avenue Securities LLC Sells 5,255 Shares of D.R. Horton, Inc. (NYSE:DHI)

Park Avenue Securities LLC reduced its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 17.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 25,289 shares of the construction company’s stock after selling 5,255 shares during the period. Park Avenue Securities LLC’s holdings in D.R. Horton were worth $4,824,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

DHI has been the topic of several analyst reports. Citigroup downgraded 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 report on Tuesday, July 2nd. Evercore ISI boosted 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. Wells Fargo & Company raised their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Keefe, Bruyette & Woods lifted their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Barclays increased their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.33.

D.R. Horton Trading Down 2.9 %

Shares of DHI traded down $5.57 during trading hours on Friday, reaching $184.64. 2,542,256 shares of the company traded hands, compared to its average volume of 2,473,046. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $199.85. The company has a market capitalization of $60.80 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.72. The company’s fifty day moving average price is $184.83 and its two-hundred day moving average price is $161.93. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23.

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

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

D.R. Horton Dividend Announcement

The firm 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 0.65%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

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.