Plato Investment Management Ltd Sells 3,182 Shares of D.R. Horton, Inc. (NYSE:DHI)

Plato Investment Management Ltd decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 19.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,952 shares of the construction company’s stock after selling 3,182 shares during the period. Plato Investment Management Ltd’s holdings in D.R. Horton were worth $1,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHI. Concurrent Investment Advisors LLC acquired a new stake in shares of D.R. Horton in the 1st quarter valued at about $1,249,000. Vinva Investment Management Ltd raised its position in D.R. Horton by 59.3% in the 4th quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock valued at $12,537,000 after buying an additional 30,186 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in D.R. Horton by 85.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after acquiring an additional 16,252 shares in the last quarter. Alaska Permanent Fund Corp boosted its position in D.R. Horton by 312.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock worth $1,934,000 after acquiring an additional 8,902 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of D.R. Horton by 24.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock worth $4,978,000 after acquiring an additional 6,429 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on DHI shares. 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. UBS Group lifted their target price on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, JMP Securities increased their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.07.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $194.80 on Monday. The firm has a market cap of $64.15 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. The business’s 50 day moving average is $175.54 and its 200-day moving average is $157.94. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $195.00.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.90 EPS. Equities research analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a dividend of $0.30 per share. 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 0.62%. D.R. Horton’s payout ratio is presently 8.17%.

D.R. Horton announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management 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.