Mackenzie Financial Corp Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Mackenzie Financial Corp decreased its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 47.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,566 shares of the construction company's stock after selling 123,896 shares during the quarter. Mackenzie Financial Corp's holdings in D.R. Horton were worth $19,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DHI. Nemes Rush Group LLC increased its position in D.R. Horton by 74.5% in the fourth quarter. Nemes Rush Group LLC now owns 192 shares of the construction company's stock worth $27,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of D.R. Horton in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of D.R. Horton during the 4th quarter valued at about $38,000. Sierra Ocean LLC bought a new position in shares of D.R. Horton in the 4th quarter valued at about $43,000. Finally, Itau Unibanco Holding S.A. purchased a new position in D.R. Horton in the fourth quarter worth about $43,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DHI. Barclays decreased their price objective on 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. JMP Securities decreased their price target on 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. BTIG Research dropped their price objective on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a research note 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. Royal Bank of Canada reduced their target price on shares of D.R. Horton from $125.00 to $105.00 and set an "underperform" rating on the stock in a research note on Monday, April 21st. Finally, Wells Fargo & Company dropped their price target on shares of D.R. Horton from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $151.15.

D.R. Horton Stock Down 0.3%

Shares of DHI traded down $0.32 during midday trading on Friday, reaching $117.95. 4,172,770 shares of the stock were exchanged, compared to its average volume of 3,014,328. The company has a market capitalization of $36.23 billion, a P/E ratio of 8.34, a PEG ratio of 0.54 and a beta of 1.45. The company has a current ratio of 6.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $199.85. The company's 50 day moving average is $122.99 and its two-hundred day moving average is $135.90.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the previous year, the company earned $3.52 earnings per share. On average, sell-side analysts anticipate 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 issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. D.R. Horton's dividend payout ratio is currently 12.11%.

About D.R. Horton

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.