Envestnet Asset Management Inc. Decreases Position in D.R. Horton, Inc. (NYSE:DHI)

Envestnet Asset Management Inc. trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 64.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347,592 shares of the construction company's stock after selling 642,036 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of D.R. Horton worth $44,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DHI. Nemes Rush Group LLC boosted its stake in D.R. Horton by 74.5% during the fourth quarter. Nemes Rush Group LLC now owns 192 shares of the construction company's stock worth $27,000 after buying an additional 82 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of D.R. Horton during the 1st quarter valued at about $26,000. Itau Unibanco Holding S.A. purchased a new stake in shares of D.R. Horton in the 4th quarter valued at approximately $43,000. Oarsman Capital Inc. grew its position in D.R. Horton by 146.7% in the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock worth $46,000 after acquiring an additional 198 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new stake in D.R. Horton in the fourth quarter valued at $54,000. 90.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of D.R. Horton stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total value of $274,555.00. Following the sale, the director owned 2,193 shares of the company's stock, valued at $280,046.10. This trade represents a 49.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

D.R. Horton Price Performance

Shares of DHI traded up $1.58 during trading hours on Wednesday, reaching $131.40. The company had a trading volume of 5,599,687 shares, compared to its average volume of 3,182,977. The company has a current ratio of 7.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85. The company has a market capitalization of $40.36 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 4.25 and a beta of 1.38. The firm has a 50 day simple moving average of $125.49 and a 200-day simple moving average of $129.12.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.69 by ($0.11). D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. The firm had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the business posted $3.52 earnings per share. Research analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, May 2nd. D.R. Horton's payout ratio is 12.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DHI shares. JMP Securities reduced their price objective on shares of D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a report on Monday, April 21st. Royal Bank Of Canada decreased their price objective on shares of D.R. Horton from $125.00 to $105.00 and set an "underperform" rating on the stock in a report on Monday, April 21st. BTIG Research dropped their target price on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. The Goldman Sachs Group lowered their price target on D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays reduced their price target on shares of D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, D.R. Horton currently has an average rating of "Hold" and an average price target of $151.15.

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.