PGGM Investments Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

PGGM Investments cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,326 shares of the construction company’s stock after selling 12,113 shares during the period. PGGM Investments’ holdings in D.R. Horton were worth $9,206,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC boosted its position in D.R. Horton by 37,600.0% in the second quarter. ORG Partners LLC now owns 377 shares of the construction company’s stock worth $52,000 after purchasing an additional 376 shares during the last quarter. DMC Group LLC boosted its position in D.R. Horton by 20.5% in the second quarter. DMC Group LLC now owns 3,689 shares of the construction company’s stock worth $520,000 after purchasing an additional 628 shares during the last quarter. V Square Quantitative Management LLC boosted its position in D.R. Horton by 70.8% in the second quarter. V Square Quantitative Management LLC now owns 6,079 shares of the construction company’s stock worth $857,000 after purchasing an additional 2,520 shares during the last quarter. Great Valley Advisor Group Inc. boosted its position in D.R. Horton by 27.3% in the second quarter. Great Valley Advisor Group Inc. now owns 16,717 shares of the construction company’s stock worth $2,356,000 after purchasing an additional 3,590 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in D.R. Horton by 3.4% in the second quarter. NorthCrest Asset Manangement LLC now owns 12,047 shares of the construction company’s stock worth $1,698,000 after purchasing an additional 399 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

NYSE:DHI traded down $0.83 during trading hours on Wednesday, reaching $174.21. The stock had a trading volume of 1,503,652 shares, compared to its average volume of 2,570,865. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $185.43. The company has a 50 day moving average price of $155.52 and a two-hundred day moving average price of $151.48. The stock has a market capitalization of $57.37 billion, a PE ratio of 11.86, a PEG ratio of 0.83 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.90 EPS. As a group, sell-side analysts anticipate that D.R. Horton, Inc. will post 14.04 earnings per share for the current fiscal year.

D.R. Horton declared that its board has initiated a share buyback plan on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

Analyst Ratings Changes

Several research firms have recently commented on DHI. Keefe, Bruyette & Woods raised their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Barclays raised their price objective on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Wedbush reaffirmed an “underperform” rating and issued a $130.00 price objective on shares of D.R. Horton in a research note on Thursday, April 18th. UBS Group lifted their target price on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group lifted their target price on D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $175.60.

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.