Bank of America Corp DE Sells 1,343,087 Shares of D.R. Horton, Inc. (NYSE:DHI)

Bank of America Corp DE lowered its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,431,900 shares of the construction company's stock after selling 1,343,087 shares during the quarter. Bank of America Corp DE owned approximately 2.36% of D.R. Horton worth $1,039,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in D.R. Horton in the fourth quarter valued at approximately $593,363,000. Franklin Resources Inc. increased its holdings in D.R. Horton by 71.5% in the 4th quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock worth $499,774,000 after acquiring an additional 1,490,648 shares in the last quarter. Raymond James Financial Inc. purchased a new position in D.R. Horton during the fourth quarter valued at $98,720,000. Renaissance Technologies LLC grew its position in shares of D.R. Horton by 676.4% in the fourth quarter. Renaissance Technologies LLC now owns 756,538 shares of the construction company's stock valued at $105,779,000 after purchasing an additional 659,100 shares during the period. Finally, Amundi increased its stake in D.R. Horton by 69.1% during the 4th quarter. Amundi now owns 1,358,213 shares of the construction company's stock worth $190,014,000 after buying an additional 555,122 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DHI has been the subject of several research reports. Barclays dropped their target price on shares of D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. JMP Securities decreased their price target on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a research note on Monday, April 21st. StockNews.com lowered shares of D.R. Horton from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on D.R. Horton from $173.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group reduced their price target on D.R. Horton from $214.00 to $203.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, D.R. Horton presently has an average rating of "Hold" and a consensus price target of $151.15.

D.R. Horton Stock Up 0.8 %

Shares of NYSE DHI traded up $0.92 during trading hours on Wednesday, hitting $122.80. The company had a trading volume of 3,123,937 shares, compared to its average volume of 2,959,716. The stock has a market capitalization of $37.72 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.54 and a beta of 1.45. The firm's 50 day moving average is $125.44 and its 200-day moving average is $141.61. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The company has a quick ratio of 1.09, a current ratio of 6.92 and a debt-to-equity ratio of 0.20.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share for the quarter, missing analysts' consensus estimates of $2.69 by ($0.11). The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. During the same period in the prior year, the business posted $3.52 EPS. On average, analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, May 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, May 2nd. D.R. Horton's dividend payout ratio is currently 12.11%.

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.