Daiwa Securities Group Inc. Decreases Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Daiwa Securities Group Inc. trimmed its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 38.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,639 shares of the construction company’s stock after selling 20,569 shares during the period. Daiwa Securities Group Inc.’s holdings in D.R. Horton were worth $4,600,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DHI. Vanguard Group Inc. raised its position in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. lifted its position in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after purchasing an additional 81,900 shares during the period. Norges Bank purchased a new stake in D.R. Horton in the fourth quarter worth approximately $516,530,000. Franklin Resources Inc. grew its position in D.R. Horton by 12.5% in the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock worth $356,454,000 after purchasing an additional 260,864 shares during the period. Finally, Earnest Partners LLC raised its stake in D.R. Horton by 10.6% during the 1st quarter. Earnest Partners LLC now owns 2,055,012 shares of the construction company’s stock valued at $338,152,000 after buying an additional 196,748 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their price target on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. UBS Group raised their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com cut shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $182.07.

D.R. Horton Price Performance

NYSE:DHI opened at $188.76 on Friday. The business’s 50-day simple moving average is $174.36 and its two-hundred day simple moving average is $157.43. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $193.63. The stock has a market cap of $62.16 billion, a PE ratio of 12.85, a P/E/G ratio of 0.86 and a beta of 1.73. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the company posted $3.90 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts forecast that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton declared that its Board of Directors has approved a share repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.