Louisiana State Employees Retirement System Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Louisiana State Employees Retirement System lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,800 shares of the construction company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in D.R. Horton were worth $2,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in D.R. Horton during the 1st quarter worth $27,000. RiverPark Advisors LLC acquired a new position in shares of D.R. Horton during the 1st quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in shares of D.R. Horton in the first quarter valued at approximately $30,000. Signature Resources Capital Management LLC acquired a new stake in shares of D.R. Horton in the second quarter valued at approximately $31,000. Finally, Private Wealth Management Group LLC purchased a new position in D.R. Horton during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Up 2.5 %

NYSE:DHI traded up $4.59 during trading hours on Friday, hitting $190.33. The company’s stock had a trading volume of 1,403,460 shares, compared to its average volume of 2,544,061. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $191.57. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $62.68 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. The stock has a fifty day moving average of $160.19 and a 200-day moving average of $152.97.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.90 EPS. On average, equities analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DHI shares. Bank of America boosted their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a report on Monday, July 22nd. 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. Barclays boosted their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. JMP Securities raised their price target on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, UBS Group boosted their price objective on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $175.60.

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.