Morse Asset Management Inc Decreases Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Morse Asset Management Inc cut its stake in D.R. Horton, Inc. (NYSE:DHI) by 35.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 15,928 shares of the construction company’s stock after selling 8,627 shares during the quarter. Morse Asset Management Inc’s holdings in D.R. Horton were worth $2,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Concurrent Investment Advisors LLC acquired a new stake in D.R. Horton in the 1st quarter valued at about $1,249,000. Vinva Investment Management Ltd increased its position in D.R. Horton by 59.3% during the fourth quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock worth $12,537,000 after buying an additional 30,186 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of D.R. Horton by 85.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after acquiring an additional 16,252 shares during the last quarter. Alaska Permanent Fund Corp boosted its stake in shares of D.R. Horton by 312.0% during the first quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock valued at $1,934,000 after acquiring an additional 8,902 shares during the last quarter. Finally, Stifel Financial Corp increased its position in D.R. Horton by 18.1% during the 4th quarter. Stifel Financial Corp now owns 94,924 shares of the construction company’s stock worth $14,429,000 after purchasing an additional 14,573 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on DHI shares. Keefe, Bruyette & Woods raised 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. JMP Securities boosted their price target on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Evercore ISI raised their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada upped their target price on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. Finally, Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.33.

D.R. Horton Price Performance

D.R. Horton stock opened at $191.89 on Monday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $63.19 billion, a P/E ratio of 13.06, a PEG ratio of 0.86 and a beta of 1.73. The firm has a fifty day moving average of $180.71 and a 200-day moving average of $159.46. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85.

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

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.