Louisiana State Employees Retirement System Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Louisiana State Employees Retirement System reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,500 shares of the construction company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in D.R. Horton were worth $3,148,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bfsg LLC boosted its holdings in D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after acquiring an additional 74 shares during the period. RiverPark Advisors LLC acquired a new stake in shares of D.R. Horton during the first quarter worth about $29,000. Signature Resources Capital Management LLC purchased a new position in shares of D.R. Horton in the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC grew its holdings in shares of D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in D.R. Horton by 76.2% during the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after buying an additional 93 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Stock Down 1.9 %

DHI opened at $179.24 on Monday. The stock has a market capitalization of $59.03 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a one year low of $100.81 and a one year high of $199.85. The business’s 50-day simple moving average is $187.89 and its 200-day simple moving average is $164.80.

D.R. Horton declared that its Board of Directors has initiated a share repurchase program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. 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 research note on Tuesday, October 15th. Royal Bank of Canada increased their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. JMP Securities boosted their price objective on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Bank of America raised their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.67.

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.