New England Research & Management Inc. Sells 10,712 Shares of D.R. Horton, Inc. (NYSE:DHI)

New England Research & Management Inc. reduced its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 90.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,075 shares of the construction company’s stock after selling 10,712 shares during the period. New England Research & Management Inc.’s holdings in D.R. Horton were worth $205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Premier Path Wealth Partners LLC grew its holdings in D.R. Horton by 1.0% during the second quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after buying an additional 59 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of 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 worth $739,000 after acquiring an additional 60 shares in the last quarter. Whittier Trust Co. lifted its position in shares of D.R. Horton by 1.7% during the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after purchasing an additional 63 shares in the last quarter. Values First Advisors Inc. boosted its holdings in D.R. Horton by 0.7% during the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after purchasing an additional 66 shares during the last quarter. Finally, Studio Investment Management LLC boosted its holdings in D.R. Horton by 0.3% during the second quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company’s stock worth $3,350,000 after purchasing an additional 70 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DHI has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. Barclays boosted their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. JMP Securities boosted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company raised their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, D.R. Horton has a consensus rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Stock Performance

NYSE:DHI opened at $185.16 on Tuesday. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $199.85. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $60.98 billion, a P/E ratio of 12.60, a PEG ratio of 0.89 and a beta of 1.72. The business’s 50-day moving average price is $184.83 and its two-hundred day moving average price is $162.00.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion during 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 period in the previous year, the business posted $3.90 earnings per share. As a group, equities analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. D.R. Horton’s payout ratio is 8.17%.

D.R. Horton declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.