Wells Fargo & Company Cuts D.R. Horton (NYSE:DHI) Price Target to $190.00

D.R. Horton (NYSE:DHI) had its price target cut by Wells Fargo & Company from $220.00 to $190.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

DHI has been the topic of several other reports. Barclays upped their price target on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Bank of America upped their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective on the stock in a research report on Tuesday, October 15th. Finally, Evercore ISI upped their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, D.R. Horton has a consensus rating of “Moderate Buy” and a consensus price target of $185.87.

D.R. Horton Price Performance

Shares of NYSE:DHI opened at $169.29 on Wednesday. The company’s 50-day moving average is $187.29 and its 200 day moving average is $165.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The company has a market capitalization of $55.75 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. D.R. Horton has a fifty-two week low of $102.23 and a fifty-two week 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 EPS for the quarter, missing the consensus estimate of $4.20 by ($0.28). The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $4.45 earnings per share. On average, equities research analysts forecast that D.R. Horton will post 14.03 earnings per share for the current year.

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

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is 8.17%.

Institutional Trading of D.R. Horton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 worth $5,735,620,000 after acquiring an additional 2,474,262 shares during the period. Greenhaven Associates Inc. lifted its stake in D.R. Horton by 2.3% in the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after acquiring an additional 81,900 shares during the period. Earnest Partners LLC lifted its stake in D.R. Horton by 0.4% in the second quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock worth $290,901,000 after acquiring an additional 9,137 shares during the period. Principal Financial Group Inc. raised its holdings in D.R. Horton by 51.2% in the second 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. Finally, National Pension Service raised its holdings in D.R. Horton by 6.0% in the third quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock worth $211,507,000 after purchasing an additional 62,971 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

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.