Assenagon Asset Management S.A. Sells 35,411 Shares of D.R. Horton, Inc. $DHI

Key Points

• Assenagon Asset Management reduced its D.R. Horton stake by 18.9%, selling 35,411 shares and retaining 151,749 shares valued at approximately $24.7 million. Institutional investors collectively own 90.63% of the company.
• Analyst sentiment remains mixed, with five Buy ratings and ten Hold ratings; the consensus rating is Hold with an average price target of $166.92.
• D.R. Horton exceeded quarterly earnings and revenue expectations, reporting $3.20 in EPS and $9.23 billion in revenue. The company also declared a quarterly dividend of $0.45 per share, representing a 1.2% annualized yield.

Assenagon Asset Management S.A. cut its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,749 shares of the construction company's stock after selling 35,411 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of D.R. Horton worth $24,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Merit Financial Group LLC lifted its stake in shares of D.R. Horton by 25.6% in the 4th quarter. Merit Financial Group LLC now owns 18,298 shares of the construction company's stock worth $2,635,000 after purchasing an additional 3,726 shares during the period. Vise Technologies Inc. boosted its stake in shares of D.R. Horton by 132.9% during the 4th quarter. Vise Technologies Inc. now owns 14,925 shares of the construction company's stock worth $2,150,000 after acquiring an additional 8,517 shares during the last quarter. Calamos Advisors LLC boosted its stake in shares of D.R. Horton by 25.8% during the 4th quarter. Calamos Advisors LLC now owns 201,437 shares of the construction company's stock worth $29,013,000 after acquiring an additional 41,249 shares during the last quarter. California Public Employees Retirement System grew its position in shares of D.R. Horton by 94.1% during the 1st quarter. California Public Employees Retirement System now owns 880,665 shares of the construction company's stock valued at $120,845,000 after acquiring an additional 426,886 shares during the period. Finally, Assetmark Inc. grew its position in shares of D.R. Horton by 6.0% during the 4th quarter. Assetmark Inc. now owns 431,766 shares of the construction company's stock valued at $62,187,000 after acquiring an additional 24,508 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zelman & Associates upgraded D.R. Horton from a "neutral" rating to an "outperform" rating in a research note on Tuesday, July 7th. UBS Group raised their price objective on shares of D.R. Horton from $193.00 to $206.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Wells Fargo & Company cut their price target on D.R. Horton from $170.00 to $155.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group reissued a "buy" rating on shares of D.R. Horton in a report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on D.R. Horton from $175.00 to $167.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $166.92.

D.R. Horton Stock Performance

NYSE:DHI opened at $150.80 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.43 and a quick ratio of 1.04. D.R. Horton, Inc. has a 1 year low of $131.75 and a 1 year high of $184.54. The stock's 50 day simple moving average is $151.78 and its two-hundred day simple moving average is $149.98. The company has a market cap of $42.18 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.40 and a beta of 1.37.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The construction company reported $3.20 EPS for the quarter, beating analysts' consensus estimates of $3.02 by $0.18. The firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.10 billion. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.36 EPS. As a group, equities analysts anticipate that D.R. Horton, Inc. will post 10.47 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 Thursday, August 13th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 6th. D.R. Horton's payout ratio is presently 17.13%.

D.R. Horton Company Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company's core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source