Aprio Wealth Management LLC Decreases Holdings in D.R. Horton, Inc. (NYSE:DHI)

Aprio Wealth Management LLC cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,790 shares of the construction company’s stock after selling 162 shares during the quarter. Aprio Wealth Management LLC’s holdings in D.R. Horton were worth $341,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. IMZ Advisory Inc purchased a new stake in shares of D.R. Horton during the 3rd quarter valued at $206,000. Foresight Capital Management Advisors Inc. purchased a new stake in shares of D.R. Horton during the 3rd quarter valued at $259,000. Fulton Bank N.A. grew its stake in shares of D.R. Horton by 2.6% during the 3rd quarter. Fulton Bank N.A. now owns 23,246 shares of the construction company’s stock worth $4,435,000 after acquiring an additional 587 shares during the period. Miracle Mile Advisors LLC grew its stake in shares of D.R. Horton by 2.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 7,049 shares of the construction company’s stock worth $1,345,000 after acquiring an additional 138 shares during the period. Finally, Chemistry Wealth Management LLC bought a new position in shares of D.R. Horton during the 3rd quarter worth $213,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DHI. JPMorgan Chase & Co. increased their price target on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Evercore ISI increased their price target on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. UBS Group increased their price target on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price target on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada raised their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Two equities 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 stock. According to MarketBeat, D.R. Horton presently has a consensus rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Stock Up 0.2 %

Shares of NYSE DHI opened at $185.48 on Wednesday. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $199.85. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $61.08 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.89 and a beta of 1.72. The business has a 50-day moving average of $184.96 and a 200-day moving average of $162.16.

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

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date of this dividend 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 announced that its board has authorized a share buyback program on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.