D.R. Horton, Inc. (NYSE:DHI) Position Cut by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in D.R. Horton, Inc. (NYSE:DHI) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,083,761 shares of the construction company’s stock after selling 116,157 shares during the period. Franklin Resources Inc. owned 0.65% of D.R. Horton worth $389,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC purchased a new stake in shares of D.R. Horton during the third quarter worth $1,853,178,000. FMR LLC increased its holdings in shares of D.R. Horton by 44.7% during the 3rd quarter. FMR LLC now owns 7,906,129 shares of the construction company’s stock worth $1,508,252,000 after purchasing an additional 2,442,581 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in D.R. Horton in the 3rd quarter valued at $72,672,000. Finally, Banque Pictet & Cie SA lifted its position in shares of D.R. Horton by 592.4% during the 2nd quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company’s stock worth $56,784,000 after buying an additional 344,731 shares during the period. 90.63% of the stock is owned by institutional investors.

Insider Transactions 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 dated Thursday, November 21st. The shares were sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.74% of the company’s stock.

D.R. Horton Trading Down 0.9 %

D.R. Horton stock opened at $149.85 on Friday. D.R. Horton, Inc. has a one year low of $133.02 and a one year high of $199.85. The stock has a 50-day moving average of $171.02 and a two-hundred day moving average of $168.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32. The stock has a market cap of $48.13 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share 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 for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the company posted $4.45 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. On average, research analysts anticipate that D.R. Horton, Inc. will post 14.17 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently announced 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 is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, November 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.07%. D.R. Horton’s dividend payout ratio is 11.14%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DHI. Royal Bank of Canada cut their price target on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods cut shares of D.R. Horton from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $200.00 to $183.00 in a research report on Tuesday. Bank of America raised their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a report on Tuesday, October 15th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $170.00 price objective (down from $192.00) on shares of D.R. Horton in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus target price of $180.60.

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.