Applied Finance Capital Management LLC Sells 30,018 Shares of D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Applied Finance Capital Management LLC reduced its stake in D.R. Horton, Inc. by 14.4%, now holding 178,030 shares valued at approximately $22.63 million, representing about 1.7% of their portfolio.
• D.R. Horton reported a quarterly EPS of $3.36, exceeding analysts' expectations, despite a 7.4% year-over-year revenue decline.
• The construction company announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend of $1.60 with a yield of 1.10%.

Applied Finance Capital Management LLC lowered its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,030 shares of the construction company's stock after selling 30,018 shares during the quarter. D.R. Horton accounts for approximately 1.7% of Applied Finance Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Applied Finance Capital Management LLC owned 0.06% of D.R. Horton worth $22,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DHI. Bank Pictet & Cie Europe AG boosted its stake in shares of D.R. Horton by 1.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 319,166 shares of the construction company's stock worth $44,626,000 after buying an additional 5,052 shares during the last quarter. LPL Financial LLC raised its holdings in shares of D.R. Horton by 8.0% in the 4th quarter. LPL Financial LLC now owns 236,514 shares of the construction company's stock worth $33,069,000 after purchasing an additional 17,550 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of D.R. Horton by 4.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 467,676 shares of the construction company's stock worth $65,423,000 after purchasing an additional 19,960 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in shares of D.R. Horton by 12.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 29,413 shares of the construction company's stock worth $4,113,000 after purchasing an additional 3,251 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in shares of D.R. Horton by 29.9% in the 4th quarter. UniSuper Management Pty Ltd now owns 24,195 shares of the construction company's stock worth $3,383,000 after purchasing an additional 5,567 shares during the period. Hedge funds and other institutional investors own 90.63% of the company's stock.

Insider Buying and Selling at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total transaction of $274,555.00. Following the completion of the transaction, the director directly owned 2,193 shares of the company's stock, valued at $280,046.10. The trade was a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DHI has been the topic of a number of research reports. UBS Group lifted their price target on shares of D.R. Horton from $176.00 to $187.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their target price on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company raised their price target on D.R. Horton from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group decreased 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, Wedbush increased their price objective on D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, D.R. Horton currently has a consensus rating of "Hold" and an average target price of $153.23.

D.R. Horton Stock Down 0.8%

Shares of DHI traded down $1.16 on Wednesday, reaching $146.20. The stock had a trading volume of 1,400,267 shares, compared to its average volume of 3,776,145. The company has a 50-day simple moving average of $128.93 and a 200-day simple moving average of $129.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 7.06. The firm has a market capitalization of $43.58 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 EPS for the quarter, topping the consensus estimate of $2.90 by $0.46. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. D.R. Horton's quarterly revenue was down 7.4% on a year-over-year basis. Sell-side analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. D.R. Horton's payout ratio is 12.83%.

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.