Cambridge Investment Research Advisors Inc. Decreases Stake in D.R. Horton, Inc. (NYSE:DHI)

Cambridge Investment Research Advisors Inc. lessened its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,638 shares of the construction company’s stock after selling 2,876 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in D.R. Horton were worth $6,573,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of D.R. Horton during the 1st quarter valued at about $27,000. RiverPark Advisors LLC purchased a new position in shares of D.R. Horton in the 1st quarter worth approximately $29,000. Riverview Trust Co bought a new position in shares of D.R. Horton during the 1st quarter valued at approximately $30,000. Signature Resources Capital Management LLC purchased a new stake in D.R. Horton during the 2nd quarter valued at $31,000. Finally, Private Wealth Management Group LLC bought a new stake in D.R. Horton in the fourth quarter worth $42,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

DHI stock opened at $187.57 on Thursday. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $193.63. The business has a 50-day moving average price of $164.01 and a 200 day moving average price of $154.27. The company has a market capitalization of $61.77 billion, a P/E ratio of 12.77, a PEG ratio of 0.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last announced 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. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.90 EPS. As a group, equities research analysts forecast that D.R. Horton, Inc. will post 14.04 EPS for the current fiscal year.

D.R. Horton announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

D.R. Horton Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price 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. Keefe, Bruyette & Woods increased their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America boosted their target price on D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their price target on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Finally, JMP Securities boosted their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.07.

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.