Cynosure Group LLC Cuts Stake in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Cynosure Group LLC has reduced its holdings in D.R. Horton by 56.8%, owning 3,008 shares valued at $382,000 following the sale of 3,962 shares in the 1st quarter.
• Several institutional investors have increased their stakes significantly, with Allspring Global Investments boosting its position by 652.0% to own nearly $252.5 million worth of D.R. Horton shares.
• D.R. Horton recently reported $3.36 EPS for the quarter, beating estimates, but noted a 7.4% decline in revenue compared to the same quarter last year.

Cynosure Group LLC lowered its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 56.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,008 shares of the construction company's stock after selling 3,962 shares during the quarter. Cynosure Group LLC's holdings in D.R. Horton were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DHI. Olde Wealth Management LLC bought a new position in shares of D.R. Horton during the 1st quarter worth approximately $26,000. Bayforest Capital Ltd raised its holdings in D.R. Horton by 340.4% in the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after acquiring an additional 194 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in D.R. Horton in the 4th quarter valued at $43,000. Alpine Bank Wealth Management acquired a new position in shares of D.R. Horton during the 1st quarter worth $61,000. Finally, Continuum Advisory LLC raised its holdings in shares of D.R. Horton by 25.8% during the 4th quarter. Continuum Advisory LLC now owns 487 shares of the construction company's stock worth $68,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company's stock.

D.R. Horton Price Performance

Shares of D.R. Horton stock traded down $2.31 during trading on Thursday, reaching $163.24. 2,333,290 shares of the stock traded hands, compared to its average volume of 3,786,990. The company has a market capitalization of $48.67 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 3.36 and a beta of 1.34. The business has a fifty day simple moving average of $136.50 and a two-hundred day simple moving average of $130.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $199.85.

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

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. D.R. Horton's payout ratio is 12.83%.

Insider Buying and Selling

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of D.R. Horton stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total value of $274,555.00. Following the transaction, the director directly owned 2,193 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DHI. Barclays lowered their price target on 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. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $135.00 to $161.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. UBS Group upped their target price on D.R. Horton from $176.00 to $187.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JMP Securities lowered their target price on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company upped their target price on D.R. Horton from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $153.23.

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.