HM Payson & Co. Reduces Holdings in D.R. Horton, Inc. (NYSE:DHI)

HM Payson & Co. lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 15.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284,900 shares of the construction company’s stock after selling 50,506 shares during the quarter. HM Payson & Co.’s holdings in D.R. Horton were worth $54,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. TCI Wealth Advisors Inc. lifted its position in D.R. Horton by 4.1% during the third quarter. TCI Wealth Advisors Inc. now owns 1,487 shares of the construction company’s stock valued at $284,000 after purchasing an additional 58 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of D.R. Horton by 1.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock valued at $872,000 after buying an additional 59 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of D.R. Horton by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock valued at $739,000 after acquiring an additional 60 shares during the period. Whittier Trust Co. increased its holdings in D.R. Horton by 1.7% in the 2nd quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock worth $520,000 after acquiring an additional 63 shares in the last quarter. Finally, Values First Advisors Inc. raised its stake in D.R. Horton by 0.7% during the 2nd quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after acquiring an additional 66 shares during the period. 90.63% of the stock is owned by institutional investors.

D.R. Horton Stock Up 0.3 %

Shares of DHI stock traded up $0.57 during mid-day trading on Thursday, hitting $169.86. The stock had a trading volume of 82,114 shares, compared to its average volume of 2,467,904. D.R. Horton, Inc. has a 12-month low of $102.23 and a 12-month high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The firm’s 50-day moving average is $187.29 and its two-hundred day moving average is $165.15. The firm has a market capitalization of $55.35 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($0.28). D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the company earned $4.45 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. On average, analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be paid a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. D.R. Horton’s payout ratio is 11.14%.

D.R. Horton declared that its Board of Directors has initiated a share buyback plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DHI shares. Citigroup dropped their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group cut their price target on D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Barclays increased their target price on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company decreased their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, D.R. Horton has a consensus rating of “Moderate Buy” and a consensus price target of $185.87.

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.