Meritage Portfolio Management Sells 511 Shares of D.R. Horton, Inc. (NYSE:DHI)

Meritage Portfolio Management lessened its stake in D.R. Horton, Inc. (NYSE:DHI) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 45,601 shares of the construction company’s stock after selling 511 shares during the period. Meritage Portfolio Management’s holdings in D.R. Horton were worth $6,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AE Wealth Management LLC raised its holdings in D.R. Horton by 40.5% during the 3rd quarter. AE Wealth Management LLC now owns 11,867 shares of the construction company’s stock valued at $1,275,000 after acquiring an additional 3,418 shares during the period. DAVENPORT & Co LLC raised its holdings in D.R. Horton by 4.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,442 shares of the construction company’s stock valued at $800,000 after acquiring an additional 305 shares during the period. Exchange Traded Concepts LLC raised its holdings in D.R. Horton by 7,293.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,327 shares of the construction company’s stock valued at $358,000 after acquiring an additional 3,282 shares during the period. Caprock Group LLC raised its holdings in D.R. Horton by 2.7% during the 3rd quarter. Caprock Group LLC now owns 4,884 shares of the construction company’s stock valued at $525,000 after acquiring an additional 127 shares during the period. Finally, Oak Thistle LLC purchased a new position in shares of D.R. Horton during the 3rd quarter valued at $398,000. Institutional investors own 90.63% of the company’s stock.

Insider Activity

In related news, Director Barbara K. Allen sold 1,748 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $143.26, for a total transaction of $250,418.48. Following the sale, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $809,419. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Barbara K. Allen sold 1,748 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total transaction of $250,418.48. Following the sale, the director now directly owns 5,650 shares of the company’s stock, valued at $809,419. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara K. Allen sold 363 shares of D.R. Horton stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $148.46, for a total value of $53,890.98. Following the completion of the sale, the director now owns 5,650 shares of the company’s stock, valued at $838,799. The disclosure for this sale can be found here. Insiders sold 27,560 shares of company stock worth $4,279,636 over the last three months. 1.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays reduced their price target on shares of D.R. Horton from $186.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. BTIG Research reduced their price objective on D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. UBS Group upped their target price on D.R. Horton from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their price target on shares of D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, Seaport Res Ptn cut D.R. Horton from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.06.

D.R. Horton Stock Up 0.8 %

DHI stock traded up $1.18 during midday trading on Friday, hitting $145.38. The stock had a trading volume of 1,155,183 shares, compared to its average volume of 2,561,394. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $165.75. The firm has a market cap of $47.88 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.38. The business has a 50-day moving average of $151.91 and a two-hundred day moving average of $139.83.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Thursday, April 18th. The construction company reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.44. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. During the same period last year, the company posted $2.73 EPS. D.R. Horton’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that D.R. Horton, Inc. will post 14.28 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 2nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, May 1st. D.R. Horton’s dividend payout ratio (DPR) is 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.