State Treasurer State of Michigan cut its stake in D. R. Horton Inc (NYSE:DHI) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 98,060 shares of the construction company’s stock after selling 4,200 shares during the period. State Treasurer State of Michigan’s holdings in D. R. Horton were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of D. R. Horton by 80.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,800 shares of the construction company’s stock valued at $62,000 after buying an additional 800 shares in the last quarter. Private Capital Group LLC raised its stake in shares of D. R. Horton by 30.5% in the 4th quarter. Private Capital Group LLC now owns 3,130 shares of the construction company’s stock valued at $108,000 after buying an additional 731 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of D. R. Horton by 50.9% in the 4th quarter. First Mercantile Trust Co. now owns 3,290 shares of the construction company’s stock valued at $114,000 after buying an additional 1,110 shares in the last quarter. IMS Capital Management acquired a new position in shares of D. R. Horton in the 3rd quarter valued at $115,000. Finally, River Wealth Advisors LLC acquired a new position in shares of D. R. Horton in the 3rd quarter valued at $160,000. 82.99% of the stock is owned by hedge funds and other institutional investors.
DHI stock traded down $0.28 during trading on Monday, hitting $37.44. The company had a trading volume of 572,018 shares, compared to its average volume of 7,075,063. D. R. Horton Inc has a one year low of $32.39 and a one year high of $47.00. The stock has a market capitalization of $14.09 billion, a PE ratio of 9.15, a PEG ratio of 0.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.85 and a quick ratio of 0.73.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 25th. Stockholders of record on Monday, February 11th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, February 8th. D. R. Horton’s dividend payout ratio is presently 14.67%.
A number of brokerages have recently issued reports on DHI. Wedbush set a $41.00 price objective on shares of D. R. Horton and gave the company a “buy” rating in a research note on Friday, January 25th. Credit Suisse Group set a $46.00 target price on shares of D. R. Horton and gave the stock a “buy” rating in a research report on Friday, January 25th. Mizuho upgraded shares of D. R. Horton from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $45.00 in a research report on Wednesday, January 23rd. ValuEngine cut shares of D. R. Horton from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Finally, Keefe, Bruyette & Woods cut shares of D. R. Horton from an “outperform” rating to a “market perform” rating in a research report on Friday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.29.
In related news, Director Barbara K. Allen sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $36.79, for a total transaction of $147,160.00. Following the transaction, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $207,863.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bill W. Wheat sold 12,892 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $37.71, for a total value of $486,157.32. Following the transaction, the chief financial officer now directly owns 145,180 shares in the company, valued at $5,474,737.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,892 shares of company stock valued at $8,353,387. Insiders own 6.87% of the company’s stock.
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About D. R. Horton
D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 27 states and 81 markets in the United States under the names of D.R.
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