Nuveen Asset Management LLC Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Nuveen Asset Management LLC cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,422,570 shares of the construction company’s stock after selling 182,143 shares during the period. Nuveen Asset Management LLC owned 0.45% of D.R. Horton worth $198,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its position in D.R. Horton by 152.8% in the 4th quarter. Rosenberg Matthew Hamilton now owns 273 shares of the construction company’s stock worth $38,000 after purchasing an additional 165 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of D.R. Horton by 3.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,246 shares of the construction company’s stock valued at $454,000 after buying an additional 107 shares during the last quarter. Park Avenue Securities LLC lifted its stake in D.R. Horton by 10.9% in the 4th quarter. Park Avenue Securities LLC now owns 28,056 shares of the construction company’s stock worth $3,923,000 after purchasing an additional 2,767 shares in the last quarter. Burney Co. increased its stake in shares of D.R. Horton by 5.5% in the 4th quarter. Burney Co. now owns 5,830 shares of the construction company’s stock worth $815,000 after acquiring an additional 305 shares during the last quarter. Finally, Stolper Co increased its position in D.R. Horton by 0.9% during the fourth quarter. Stolper Co now owns 36,706 shares of the construction company’s stock worth $5,132,000 after purchasing an additional 339 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DHI. Wells Fargo & Company lowered their target price on shares of D.R. Horton from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Barclays decreased their price target on shares of D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. JMP Securities decreased their target price on D.R. Horton from $210.00 to $180.00 and set a “market outperform” rating for the company in a research note on Monday, April 21st. Seaport Res Ptn upgraded D.R. Horton from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, BTIG Research dropped their price objective on shares of D.R. Horton from $171.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and a consensus target price of $151.15.

D.R. Horton Stock Performance

Shares of DHI opened at $123.27 on Friday. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85. The firm’s 50 day moving average is $124.66 and its 200-day moving average is $139.22. The stock has a market capitalization of $37.87 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.92 and a quick ratio of 1.09.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.11). The business had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $8.07 billion. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. During the same quarter in the previous year, the company earned $3.52 EPS. Equities research analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton’s dividend payout ratio (DPR) is presently 12.11%.

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.