Sequoia Financial Advisors LLC Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

Sequoia Financial Advisors LLC trimmed its holdings in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 86.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,795 shares of the construction company's stock after selling 75,817 shares during the quarter. Sequoia Financial Advisors LLC's holdings in D.R. Horton were worth $1,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DHI. Norges Bank bought a new stake in shares of D.R. Horton in the fourth quarter worth approximately $593,363,000. Franklin Resources Inc. boosted its holdings in D.R. Horton by 71.5% in the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock worth $499,774,000 after purchasing an additional 1,490,648 shares during the last quarter. GAMMA Investing LLC grew its position in D.R. Horton by 19,102.6% in the 1st quarter. GAMMA Investing LLC now owns 916,734 shares of the construction company's stock worth $116,544,000 after purchasing an additional 911,960 shares during the period. Two Sigma Investments LP raised its stake in D.R. Horton by 1,838.0% during the 4th quarter. Two Sigma Investments LP now owns 877,644 shares of the construction company's stock valued at $122,712,000 after buying an additional 832,358 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of D.R. Horton during the 4th quarter valued at $98,720,000. Hedge funds and other institutional investors own 90.63% of the company's stock.

D.R. Horton Trading Up 1.3%

Shares of D.R. Horton stock opened at $128.77 on Monday. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 7.29. The company has a market capitalization of $39.56 billion, a P/E ratio of 9.75, a P/E/G ratio of 4.02 and a beta of 1.37. The company has a fifty day moving average of $123.32 and a 200 day moving average of $129.75.

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 net margin of 12.15% and a return on equity of 16.95%. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period last year, the business posted $3.52 EPS. On average, sell-side analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were issued a $0.40 dividend. The ex-dividend date was Friday, May 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.24%. D.R. Horton's dividend payout ratio is currently 12.11%.

Insider Buying and Selling at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,150 shares of the business's 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 now directly owns 2,193 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DHI. Wells Fargo & Company cut their price objective 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. BTIG Research dropped their target price on D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock in a research 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. Wall Street Zen raised shares of D.R. Horton from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Seaport Res Ptn upgraded shares of D.R. Horton from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, JMP Securities cut their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 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.

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