Connor Clark & Lunn Investment Management Ltd. Sells 168,784 Shares of D.R. Horton, Inc. (NYSE:DHI)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 81.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,397 shares of the construction company’s stock after selling 168,784 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in D.R. Horton were worth $7,516,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Greenhaven Associates Inc. boosted its holdings in shares of D.R. Horton by 2.3% during the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after purchasing an additional 81,900 shares during the last quarter. Smead Capital Management Inc. lifted its position in shares of D.R. Horton by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,516,673 shares of the construction company’s stock worth $480,106,000 after buying an additional 84,835 shares in the last quarter. Earnest Partners LLC boosted its stake in D.R. Horton by 0.4% during the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after buying an additional 9,137 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 buying an additional 120,892 shares in the last quarter. Finally, National Pension Service increased its stake in 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 during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DHI shares. JPMorgan Chase & Co. raised their target price on shares of D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BTIG Research reduced their target price on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI lowered their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Raymond James cut D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, Barclays lowered their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, D.R. Horton has an average rating of “Hold” and a consensus price target of $185.87.

D.R. Horton Stock Performance

Shares of D.R. Horton stock opened at $163.51 on Friday. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $179.77 and its two-hundred day moving average is $167.34. D.R. Horton, Inc. has a 52 week low of $125.28 and a 52 week high of $199.85. The company has a market capitalization of $53.28 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.59 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the company posted $4.45 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts expect that D.R. Horton, Inc. will post 14.4 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s payout ratio is currently 11.14%.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of D.R. Horton stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.74% of the stock is owned by company insiders.

D.R. Horton Company 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.