West Oak Capital LLC Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

West Oak Capital LLC lowered its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,440 shares of the construction company’s stock after selling 120 shares during the period. West Oak Capital LLC’s holdings in D.R. Horton were worth $275,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares during the period. Assenagon Asset Management S.A. boosted its stake in D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after purchasing an additional 987,834 shares during the period. Principal Financial Group Inc. grew its position in D.R. Horton by 51.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after purchasing an additional 561,337 shares during the last quarter. Long Pond Capital LP raised its holdings in shares of D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of D.R. Horton by 265.6% during the first quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after buying an additional 354,789 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DHI. Keefe, Bruyette & Woods upped their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Finally, Bank of America lifted their price objective on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.67.

D.R. Horton Stock Performance

D.R. Horton stock opened at $194.56 on Friday. 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 fifty-two week low of $100.08 and a fifty-two week high of $199.85. The stock has a fifty day moving average of $187.21 and a two-hundred day moving average of $163.78. The company has a market capitalization of $64.07 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.90 EPS. On average, analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton announced that its board has approved a stock buyback program on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.