D.R. Horton (NYSE:DHI) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of D.R. Horton (NYSE:DHI) from an overweight rating to an equal weight rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $155.00 target price on the construction company’s stock, down from their prior target price of $180.00.

Several other research analysts have also recently weighed in on DHI. Evercore ISI set a $169.00 target price on D.R. Horton and gave the stock an “in-line” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their price objective on D.R. Horton from $178.00 to $175.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 29th. Citigroup lowered D.R. Horton from a “market outperform” rating to a “market perform” rating in a research note on Wednesday. UBS Group cut their target price on D.R. Horton from $195.00 to $191.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of D.R. Horton in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, D.R. Horton has a consensus rating of “Hold” and an average price target of $158.85.

D.R. Horton Price Performance

D.R. Horton stock opened at $144.34 on Tuesday. The company has a fifty day simple moving average of $148.81 and a 200-day simple moving average of $153.26. The firm has a market capitalization of $42.02 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.74 and a beta of 1.42. The company has a quick ratio of 1.18, a current ratio of 6.48 and a debt-to-equity ratio of 0.24. D.R. Horton has a 52-week low of $110.44 and a 52-week high of $184.54.

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

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $0.45 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, November 13th. D.R. Horton’s dividend payout ratio (DPR) is presently 15.53%.

Hedge Funds Weigh In On D.R. Horton

A number of hedge funds have recently modified their holdings of the business. Capital World Investors lifted its position in D.R. Horton by 159.8% in the third quarter. Capital World Investors now owns 30,252,842 shares of the construction company’s stock valued at $5,126,995,000 after buying an additional 18,607,545 shares during the last quarter. State Street Corp increased its position in shares of D.R. Horton by 0.7% during the second quarter. State Street Corp now owns 12,636,264 shares of the construction company’s stock valued at $1,629,067,000 after acquiring an additional 92,219 shares during the last quarter. Norges Bank purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at approximately $494,278,000. Invesco Ltd. raised its stake in shares of D.R. Horton by 18.1% in the 3rd quarter. Invesco Ltd. now owns 3,372,020 shares of the construction company’s stock valued at $571,456,000 after acquiring an additional 517,752 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of D.R. Horton by 16.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,200,176 shares of the construction company’s stock worth $412,567,000 after acquiring an additional 450,362 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Company Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.