Panagora Asset Management Inc. Trims Position in D.R. Horton, Inc. $DHI

Panagora Asset Management Inc. decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 98.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,224 shares of the construction company’s stock after selling 342,026 shares during the quarter. Panagora Asset Management Inc.’s holdings in D.R. Horton were worth $802,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DHI. Intrust Bank NA lifted its position in shares of D.R. Horton by 24.5% in the first quarter. Intrust Bank NA now owns 2,021 shares of the construction company’s stock valued at $257,000 after acquiring an additional 398 shares in the last quarter. Vanguard Group Inc. raised its stake in D.R. Horton by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 33,664,013 shares of the construction company’s stock valued at $4,279,706,000 after purchasing an additional 642,642 shares during the period. Citizens Financial Group Inc. RI raised its stake in D.R. Horton by 26.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 10,953 shares of the construction company’s stock valued at $1,392,000 after purchasing an additional 2,301 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in D.R. Horton in the 1st quarter worth approximately $538,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in D.R. Horton by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,897,164 shares of the construction company’s stock worth $241,186,000 after purchasing an additional 38,650 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DHI shares. UBS Group lifted their price objective on shares of D.R. Horton from $187.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company lifted their price target on shares of D.R. Horton from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Bank of America decreased their price target on shares of D.R. Horton from $175.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Citigroup restated a “market outperform” rating on shares of D.R. Horton in a research report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods reduced their target price on D.R. Horton from $178.00 to $175.00 and set a “market perform” rating on the stock in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.15.

D.R. Horton Price Performance

DHI stock opened at $158.59 on Friday. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $184.54. The company has a quick ratio of 1.18, a current ratio of 6.48 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $153.75 and a two-hundred day simple moving average of $148.59. The firm has a market capitalization of $46.32 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.38.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 28th. The construction company reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.25). D.R. Horton had a net margin of 10.47% and a return on equity of 14.39%. The business had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.44 billion. During the same quarter in the prior year, the company posted $3.92 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, November 13th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.40. D.R. Horton’s dividend payout ratio is 15.53%.

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.