IFM Investors Pty Ltd Cuts Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

IFM Investors Pty Ltd cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,165 shares of the construction company’s stock after selling 640 shares during the quarter. IFM Investors Pty Ltd’s holdings in D.R. Horton were worth $11,668,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DHI. Vanguard Group Inc. raised its position in shares of D.R. Horton by 7.6% in the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after acquiring an additional 2,474,262 shares during the period. Greenhaven Associates Inc. raised its holdings in D.R. Horton by 2.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after purchasing an additional 81,900 shares during the period. Earnest Partners LLC boosted its position in D.R. Horton by 0.4% during the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock worth $290,901,000 after purchasing an additional 9,137 shares in the last quarter. Principal Financial Group Inc. grew its holdings in D.R. Horton by 51.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after buying an additional 987,834 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DHI. JPMorgan Chase & Co. lifted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group boosted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Wells Fargo & Company lifted their price objective on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, D.R. Horton presently has an average rating of “Moderate Buy” and a consensus target price of $185.67.

D.R. Horton Stock Up 1.3 %

Shares of NYSE:DHI opened at $182.69 on Friday. D.R. Horton, Inc. has a 52-week low of $100.29 and a 52-week high of $199.85. The stock has a market cap of $60.16 billion, a P/E ratio of 12.44, a PEG ratio of 0.78 and a beta of 1.72. The business has a fifty day moving average of $187.72 and a two-hundred day moving average of $164.36. 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 announced that its board has initiated a stock buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.