D.R. Horton, Inc. $DHI Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC reduced its position in D.R. Horton, Inc. (NYSE:DHI) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,295 shares of the construction company’s stock after selling 260 shares during the period. Studio Investment Management LLC’s holdings in D.R. Horton were worth $3,003,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Olde Wealth Management LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $26,000. Bayforest Capital Ltd grew its position in D.R. Horton by 340.4% during the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company’s stock valued at $32,000 after purchasing an additional 194 shares in the last quarter. Accredited Wealth Management LLC purchased a new position in D.R. Horton during the first quarter valued at approximately $34,000. Ransom Advisory Ltd purchased a new position in D.R. Horton during the first quarter valued at approximately $51,000. Finally, Adirondack Trust Co. grew its position in D.R. Horton by 53.2% during the second quarter. Adirondack Trust Co. now owns 406 shares of the construction company’s stock valued at $52,000 after purchasing an additional 141 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group boosted their price objective on shares of D.R. Horton from $176.00 to $187.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI set a $169.00 target price on shares of D.R. Horton and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of D.R. Horton from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Wells Fargo & Company lifted their target price on shares of D.R. Horton from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Wedbush lifted their target price on shares of D.R. Horton from $155.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.54.

Insider Buying and Selling

In related news, Director Michael R. Buchanan sold 1,000 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $180.74, for a total transaction of $180,740.00. Following the completion of the transaction, the director directly owned 1,193 shares in the company, valued at $215,622.82. This represents a 45.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Aron M. Odom sold 1,376 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $183.00, for a total transaction of $251,808.00. Following the transaction, the senior vice president owned 6,457 shares of the company’s stock, valued at approximately $1,181,631. The trade was a 17.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,376 shares of company stock valued at $5,898,848. Company insiders own 0.54% of the company’s stock.

D.R. Horton Price Performance

NYSE DHI opened at $158.68 on Wednesday. The company has a current ratio of 7.06, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $167.06 and a 200 day simple moving average of $142.30. The company has a market cap of $47.31 billion, a P/E ratio of 12.73, a P/E/G ratio of 3.19 and a beta of 1.40. D.R. Horton, Inc. has a 1 year low of $110.44 and a 1 year high of $184.54.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.46. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. D.R. Horton’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 EPS. On average, sell-side analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current year.

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.