Tectonic Advisors LLC Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

Tectonic Advisors LLC cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,744 shares of the construction company’s stock after selling 172 shares during the period. Tectonic Advisors LLC’s holdings in D.R. Horton were worth $1,477,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after buying an additional 2,474,262 shares during the period. Greenhaven Associates Inc. boosted its position in D.R. Horton by 2.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after buying an additional 81,900 shares during the period. Earnest Partners LLC boosted its position in D.R. Horton by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after buying an additional 9,137 shares during the period. Principal Financial Group Inc. boosted its position in D.R. Horton by 51.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after buying an additional 561,337 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of D.R. Horton by 1,761.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Trading Up 1.3 %

Shares of D.R. Horton stock opened at $182.69 on Friday. 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 12-month low of $100.29 and a 12-month high of $199.85. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.78 and a beta of 1.72. The firm’s 50 day simple moving average is $187.72 and its two-hundred day simple moving average is $164.36.

D.R. Horton declared that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DHI. JPMorgan Chase & Co. boosted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a report on Tuesday, October 15th. UBS Group boosted their price target on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, JMP Securities boosted 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 report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, D.R. Horton currently has an average rating of “Moderate Buy” and a consensus target price of $185.67.

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.