Oppenheimer & Co. Inc. Cuts Stake in D.R. Horton, Inc. (NYSE:DHI)

Oppenheimer & Co. Inc. decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 62.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,573 shares of the construction company's stock after selling 9,278 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in D.R. Horton were worth $708,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DHI. Geode Capital Management LLC raised its holdings in shares of D.R. Horton by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 7,235,518 shares of the construction company's stock worth $1,009,077,000 after acquiring an additional 127,606 shares in the last quarter. Norges Bank bought a new stake in D.R. Horton in the fourth quarter worth $593,363,000. Franklin Resources Inc. raised its stake in D.R. Horton by 71.5% during the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock valued at $499,774,000 after purchasing an additional 1,490,648 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in D.R. Horton by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,475,995 shares of the construction company's stock valued at $485,984,000 after purchasing an additional 72,161 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of D.R. Horton by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,375,050 shares of the construction company's stock worth $471,899,000 after buying an additional 460,804 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DHI has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on shares of D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on D.R. Horton from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wall Street Zen raised D.R. Horton from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. JMP Securities lowered their price target on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating for the company in a research report on Monday, April 21st. Finally, Barclays cut their price objective 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. Two 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, D.R. Horton has an average rating of "Hold" and a consensus target price of $151.15.

Insider Activity

In related news, Director Michael R. Buchanan sold 2,150 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total transaction of $274,555.00. Following the completion of the sale, the director directly owned 2,193 shares in the company, valued at $280,046.10. This represents a 49.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.54% of the company's stock.

D.R. Horton Trading Down 2.6%

DHI traded down $3.53 on Friday, reaching $132.08. 3,428,397 shares of the company traded hands, compared to its average volume of 3,123,490. The company has a market cap of $40.57 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 4.24 and a beta of 1.38. The company has a quick ratio of 1.15, a current ratio of 7.29 and a debt-to-equity ratio of 0.26. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $199.85. The firm has a fifty day simple moving average of $124.00 and a two-hundred day simple moving average of $129.57.

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 for the quarter, missing analysts' consensus estimates of $2.69 by ($0.11). The firm had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. During the same period last year, the firm earned $3.52 earnings per share. As a group, equities 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, May 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $1.60 annualized dividend and a dividend yield of 1.21%. D.R. Horton's payout ratio is presently 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.