Hartford Investment Management Co. Decreases Stake in D.R. Horton, Inc. (NYSE:DHI)

Hartford Investment Management Co. decreased its holdings in D.R. Horton, Inc. (NYSE:DHI) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 18,488 shares of the construction company’s stock after selling 488 shares during the period. Hartford Investment Management Co.’s holdings in D.R. Horton were worth $3,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its stake in shares of D.R. Horton by 17.7% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 314,114 shares of the construction company’s stock valued at $59,924,000 after acquiring an additional 47,223 shares during the period. Weaver Capital Management LLC increased its holdings in D.R. Horton by 101.1% in the 3rd quarter. Weaver Capital Management LLC now owns 4,842 shares of the construction company’s stock valued at $924,000 after purchasing an additional 2,434 shares in the last quarter. Narwhal Capital Management raised its position in D.R. Horton by 179.6% in the third quarter. Narwhal Capital Management now owns 7,418 shares of the construction company’s stock valued at $1,415,000 after purchasing an additional 4,765 shares during the period. Private Advisor Group LLC lifted its stake in shares of D.R. Horton by 1.7% during the third quarter. Private Advisor Group LLC now owns 25,060 shares of the construction company’s stock worth $4,781,000 after purchasing an additional 409 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of D.R. Horton in the third quarter worth about $77,000. 90.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DHI. Barclays raised their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Bank of America upped their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a research note on Tuesday, October 15th. Finally, UBS Group upped their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.67.

D.R. Horton Trading Down 0.1 %

Shares of NYSE DHI opened at $180.29 on Thursday. 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 stock’s 50 day moving average price is $187.72 and its two-hundred day moving average price is $164.36. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85. The stock has a market capitalization of $59.37 billion, a P/E ratio of 12.27, a PEG ratio of 0.78 and a beta of 1.72.

D.R. Horton declared that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding 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 a sign that the company’s board of directors believes its stock is undervalued.

About D.R. Horton

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.