California State Teachers Retirement System Lowers Holdings in D.R. Horton, Inc. (NYSE:DHI)

California State Teachers Retirement System lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,927 shares of the construction company’s stock after selling 4,558 shares during the period. California State Teachers Retirement System owned 0.14% of D.R. Horton worth $78,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DHI. Rise Advisors LLC purchased a new stake in shares of D.R. Horton during the 1st quarter worth approximately $27,000. RiverPark Advisors LLC bought a new stake in shares of D.R. Horton in the 1st quarter worth about $29,000. Riverview Trust Co purchased a new stake in shares of D.R. Horton during the 1st quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in D.R. Horton in the fourth quarter worth about $38,000. Finally, Private Wealth Management Group LLC bought a new stake in D.R. Horton during the fourth quarter worth approximately $42,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

NYSE DHI traded down $0.50 on Wednesday, hitting $179.94. 3,137,126 shares of the company’s stock traded hands, compared to its average volume of 2,576,689. The firm has a market capitalization of $58.63 billion, a PE ratio of 12.28, a P/E/G ratio of 0.80 and a beta of 1.71. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $185.43. The firm’s 50-day moving average price is $148.95 and its two-hundred day moving average price is $149.51. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the company earned $3.90 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts expect that D.R. Horton, Inc. will post 14.47 EPS for the current year.

D.R. Horton announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.67%. D.R. Horton’s payout ratio is 8.17%.

Insiders Place Their Bets

In related news, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the transaction, the director now owns 1,703 shares in the company, valued at $256,642.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

DHI has been the subject of several analyst reports. BTIG Research lowered their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. UBS Group raised their price target on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods upped their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America boosted their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays raised their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.60.

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.