D.R. Horton, Inc. $DHI Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies reduced its D.R. Horton stake by 57.9% in the first quarter, selling 384,000 shares and retaining 279,538 shares worth approximately $38.4 million.
• Other major institutions increased their positions, and institutional investors collectively own 90.63% of D.R. Horton’s outstanding stock.
• D.R. Horton reported quarterly earnings of $3.20 per share and revenue of $9.23 billion, exceeding analyst estimates. The company also declared a $0.45 quarterly dividend, while analysts’ average rating remained “Hold” with a $168.17 price target.

Renaissance Technologies LLC cut its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 57.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,538 shares of the construction company's stock after selling 384,000 shares during the period. Renaissance Technologies LLC owned about 0.10% of D.R. Horton worth $38,358,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of D.R. Horton by 22.1% in the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock valued at $5,321,849,000 after purchasing an additional 6,695,592 shares during the last quarter. Norges Bank purchased a new position in D.R. Horton during the 4th quarter worth approximately $649,305,000. Boston Partners acquired a new position in D.R. Horton during the third quarter worth approximately $274,784,000. Viking Global Investors LP lifted its stake in D.R. Horton by 108.3% in the second quarter. Viking Global Investors LP now owns 2,827,032 shares of the construction company's stock valued at $364,461,000 after buying an additional 1,469,978 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in D.R. Horton by 216.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,126,005 shares of the construction company's stock valued at $162,186,000 after buying an additional 770,521 shares during the last quarter. Institutional investors and hedge funds own 90.63% of the company's stock.

D.R. Horton Trading Up 0.4%

NYSE:DHI opened at $147.40 on Tuesday. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $184.54. The company has a current ratio of 6.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.29. The stock's 50 day simple moving average is $151.04 and its 200-day simple moving average is $150.42. The firm has a market cap of $41.23 billion, a P/E ratio of 14.02, a PEG ratio of 2.31 and a beta of 1.36.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company earned $3.36 earnings per share. Equities analysts anticipate that D.R. Horton, Inc. will post 10.54 EPS for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.2%. D.R. Horton's payout ratio is presently 17.13%.

Analyst Ratings Changes

DHI has been the topic of a number of research reports. UBS Group raised their target price on shares of D.R. Horton from $193.00 to $206.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Barclays upped their price target on shares of D.R. Horton from $140.00 to $141.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. BTIG Research set a $184.00 price objective on shares of D.R. Horton in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of D.R. Horton from $175.00 to $167.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Finally, Zelman & Associates raised shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, D.R. Horton currently has an average rating of "Hold" and an average price target of $168.17.

About D.R. Horton

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.

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