Beta Wealth Group Inc. Sells 1,401 Shares of D.R. Horton, Inc. (NYSE:DHI)

Beta Wealth Group Inc. cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 41.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,000 shares of the construction company’s stock after selling 1,401 shares during the period. Beta Wealth Group Inc.’s holdings in D.R. Horton were worth $382,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DHI. Vanguard Group Inc. lifted its holdings in shares of D.R. Horton by 7.6% in the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in D.R. Horton by 2.3% during the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after buying an additional 81,900 shares in the last quarter. Earnest Partners LLC lifted its stake in D.R. Horton by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after acquiring an additional 9,137 shares in the last quarter. Principal Financial Group Inc. lifted its stake in D.R. Horton by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock valued at $339,174,000 after acquiring an additional 120,892 shares in the last quarter. Finally, National Pension Service grew its stake in shares of D.R. Horton by 6.0% in the 3rd quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock worth $211,507,000 after acquiring an additional 62,971 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

D.R. Horton stock opened at $168.79 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. D.R. Horton, Inc. has a one year low of $120.10 and a one year high of $199.85. The firm has a market capitalization of $55.00 billion, a P/E ratio of 11.75, a PEG ratio of 0.57 and a beta of 1.74. The business has a fifty day moving average price of $184.62 and a 200-day moving average price of $166.17.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 earnings per share. As a group, equities research analysts forecast that D.R. Horton, Inc. will post 15.64 EPS for the current year.

D.R. Horton declared that its Board of Directors has approved a stock buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 11.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a research report on Tuesday, October 15th. UBS Group cut their target price on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Raymond James downgraded D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. Citigroup cut their price objective on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays decreased their target price on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned 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 $185.87.

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.