D.R. Horton, Inc. (NYSE:DHI) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its position in D.R. Horton, Inc. (NYSE:DHI) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,899 shares of the construction company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in D.R. Horton were worth $19,236,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in DHI. Evergreen Capital Management LLC lifted its holdings in D.R. Horton by 53.7% in the third quarter. Evergreen Capital Management LLC now owns 9,992 shares of the construction company’s stock worth $1,074,000 after purchasing an additional 3,489 shares during the period. Voss Capital LLC acquired a new stake in shares of D.R. Horton during the 4th quarter valued at $7,599,000. Handelsbanken Fonder AB boosted its stake in shares of D.R. Horton by 20.5% during the 4th quarter. Handelsbanken Fonder AB now owns 97,275 shares of the construction company’s stock worth $14,784,000 after acquiring an additional 16,573 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of D.R. Horton by 12.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,241 shares of the construction company’s stock worth $10,371,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Vinva Investment Management Ltd raised its position in shares of 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 purchasing an additional 30,186 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analysts Set New Price Targets

DHI has been the topic of a number of analyst reports. Citigroup cut 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. StockNews.com lowered shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Wedbush reaffirmed an “underperform” rating and set a $130.00 target price on shares of D.R. Horton in a research note on Thursday, April 18th. Royal Bank of Canada lowered their price objective on shares of D.R. Horton from $142.00 to $141.00 and set an “underperform” rating on the stock in a research report on Friday, April 19th. Finally, Barclays decreased their price target on D.R. Horton from $186.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, D.R. Horton has an average rating of “Hold” and a consensus price target of $156.75.

D.R. Horton Trading Down 1.3 %

D.R. Horton stock opened at $135.19 on Wednesday. The stock has a market cap of $44.52 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.71. The company has a quick ratio of 1.38, a current ratio of 7.35 and a debt-to-equity ratio of 0.24. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $165.75. The business has a 50 day moving average price of $144.98 and a two-hundred day moving average price of $148.51.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, April 18th. The construction company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.44. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.15 billion. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.73 EPS. As a group, equities analysts forecast that D.R. Horton, Inc. will post 14.26 EPS for the current year.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, May 2nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, May 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

Insider Buying and Selling at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the transaction, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now owns 1,703 shares in the company, valued at $256,642.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Barbara K. Allen sold 363 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total value of $53,890.98. Following the completion of the transaction, the director now owns 5,650 shares in the company, valued at approximately $838,799. The disclosure for this sale can be found here. Company insiders own 1.74% of the company’s stock.

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.