Miller Investment Management LP Has $11.13 Million Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Miller Investment Management LP lessened its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,537 shares of the construction company’s stock after selling 189 shares during the quarter. D.R. Horton comprises 1.2% of Miller Investment Management LP’s investment portfolio, making the stock its 20th biggest position. Miller Investment Management LP’s holdings in D.R. Horton were worth $11,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG raised its holdings in shares of D.R. Horton by 1.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 319,166 shares of the construction company’s stock worth $44,626,000 after buying an additional 5,052 shares in the last quarter. Blair William & Co. IL raised its stake in D.R. Horton by 0.3% during the fourth quarter. Blair William & Co. IL now owns 36,782 shares of the construction company’s stock worth $5,143,000 after acquiring an additional 95 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of D.R. Horton in the fourth quarter worth about $274,000. Orion Portfolio Solutions LLC boosted its stake in shares of D.R. Horton by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 27,746 shares of the construction company’s stock valued at $3,879,000 after purchasing an additional 170 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of D.R. Horton by 37.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 4,013 shares of the construction company’s stock valued at $561,000 after purchasing an additional 1,096 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on DHI. JPMorgan Chase & Co. dropped their price objective on shares of D.R. Horton from $132.00 to $111.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods increased their price target on D.R. Horton from $135.00 to $161.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price objective on D.R. Horton from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group dropped their target price on D.R. Horton from $173.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, Barclays reduced their price target on D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $153.23.

Insider Transactions at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total transaction of $274,555.00. Following the completion of the sale, the director owned 2,193 shares of the company’s stock, valued at $280,046.10. This trade represents a 49.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

D.R. Horton Trading Up 0.7%

NYSE:DHI opened at $146.29 on Tuesday. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $199.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 7.06. The firm’s fifty day moving average is $128.43 and its 200-day moving average is $129.14. The firm has a market cap of $43.61 billion, a P/E ratio of 11.73, a P/E/G ratio of 3.16 and a beta of 1.38.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.46. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter in the prior year, the firm posted $4.10 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.09%. D.R. Horton’s payout ratio is currently 12.83%.

D.R. Horton Company 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.