Gulf International Bank UK Ltd Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

Gulf International Bank UK Ltd lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 12.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,121 shares of the construction company’s stock after selling 3,221 shares during the period. Gulf International Bank UK Ltd’s holdings in D.R. Horton were worth $3,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its stake in D.R. Horton by 5.2% during the second quarter. CWM LLC now owns 13,382 shares of the construction company’s stock worth $1,886,000 after acquiring an additional 661 shares during the last quarter. Hilltop National Bank raised its holdings in D.R. Horton by 21.7% in the 2nd quarter. Hilltop National Bank now owns 773 shares of the construction company’s stock valued at $109,000 after buying an additional 138 shares during the period. Somerset Trust Co lifted its position in D.R. Horton by 13.5% in the second quarter. Somerset Trust Co now owns 1,530 shares of the construction company’s stock valued at $216,000 after buying an additional 182 shares during the last quarter. Park Avenue Securities LLC boosted its stake in D.R. Horton by 0.8% during the second quarter. Park Avenue Securities LLC now owns 30,544 shares of the construction company’s stock worth $4,305,000 after buying an additional 247 shares during the period. Finally, New England Research & Management Inc. purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at approximately $1,661,000. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Stock Down 2.7 %

DHI stock traded down $4.64 during midday trading on Wednesday, reaching $169.00. 3,068,443 shares of the company were exchanged, compared to its average volume of 2,586,528. The company has a market cap of $55.65 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. 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 1-year low of $100.08 and a 1-year high of $185.43. The stock’s 50-day simple moving average is $152.23 and its 200 day simple moving average is $150.34.

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, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the company earned $3.90 earnings per share. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton announced that its board has approved a stock buyback plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.71%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

Analyst Ratings Changes

Several analysts recently weighed in on DHI shares. Evercore ISI lifted their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. UBS Group boosted their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Bank of America increased their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $175.60.

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.