D.R. Horton, Inc. (NYSE:DHI) Position Cut by Hollencrest Capital Management

Hollencrest Capital Management lowered its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 30.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,245 shares of the construction company’s stock after selling 555 shares during the period. Hollencrest Capital Management’s holdings in D.R. Horton were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Bfsg LLC raised its stake in shares of D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares in the last quarter. Signature Resources Capital Management LLC bought a new stake in shares of D.R. Horton during the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC lifted its stake in shares of D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after acquiring an additional 196 shares during the period. Grove Bank & Trust boosted its holdings in shares of D.R. Horton by 76.2% in the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after acquiring an additional 93 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in D.R. Horton during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Trading Up 0.4 %

Shares of NYSE DHI opened at $168.79 on Friday. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $55.00 billion, a PE ratio of 11.75, a PEG ratio of 0.57 and a beta of 1.74. The business has a 50-day moving average price of $184.62 and a two-hundred day moving average price of $166.17. D.R. Horton, Inc. has a one year low of $120.10 and a one year high of $199.85.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the business posted $4.45 EPS. D.R. Horton’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts predict that D.R. Horton, Inc. will post 15.64 earnings per share for the current fiscal year.

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

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. 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. D.R. Horton’s payout ratio is currently 11.14%.

Analyst Ratings Changes

DHI has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target 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. Evercore ISI lowered their target price on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Bank of America upped their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Citigroup lowered their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Raymond James lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, D.R. Horton has a consensus rating of “Hold” and an average 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.