Arrowstreet Capital Limited Partnership Sells 184,804 Shares of D.R. Horton, Inc. $DHI

Arrowstreet Capital Limited Partnership lowered its holdings in D.R. Horton, Inc. (NYSE:DHI) by 16.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 913,008 shares of the construction company’s stock after selling 184,804 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in D.R. Horton were worth $117,705,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of D.R. Horton by 1.9% in the first quarter. Vanguard Group Inc. now owns 33,664,013 shares of the construction company’s stock worth $4,279,706,000 after acquiring an additional 642,642 shares during the last quarter. Norges Bank acquired a new position in shares of D.R. Horton during the second quarter valued at about $494,278,000. Dimensional Fund Advisors LP lifted its position in shares of D.R. Horton by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,509,407 shares of the construction company’s stock worth $446,093,000 after acquiring an additional 33,412 shares during the period. Franklin Resources Inc. boosted its stake in D.R. Horton by 16.4% during the second quarter. Franklin Resources Inc. now owns 3,200,176 shares of the construction company’s stock worth $412,567,000 after buying an additional 450,362 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in D.R. Horton by 42.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,827,694 shares of the construction company’s stock valued at $378,628,000 after acquiring an additional 846,085 shares during the period. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Up 4.2%

NYSE:DHI opened at $165.08 on Thursday. D.R. Horton, Inc. has a 1 year low of $110.44 and a 1 year high of $184.54. The stock has a 50-day moving average price of $154.01 and a two-hundred day moving average price of $148.27. The stock has a market cap of $48.21 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.88 and a beta of 1.38. The company has a current ratio of 6.48, a quick ratio of 1.18 and a debt-to-equity ratio of 0.24.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $3.04 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.25). D.R. Horton had a net margin of 10.47% and a return on equity of 14.39%. The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.44 billion. During the same quarter last year, the firm earned $3.92 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 13th. D.R. Horton’s dividend payout ratio is currently 15.53%.

Analysts Set New Price Targets

A number of equities analysts have commented on DHI shares. UBS Group boosted their price target on shares of D.R. Horton from $187.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Evercore ISI set a $169.00 price objective on D.R. Horton and gave the stock an “in-line” rating in a research report on Tuesday, October 7th. Wells Fargo & Company upped their target price on shares of D.R. Horton from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Keefe, Bruyette & Woods lowered their price target on shares of D.R. Horton from $178.00 to $175.00 and set a “market perform” rating for the company in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of D.R. Horton in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, D.R. Horton currently has a consensus rating of “Hold” and a consensus price target of $160.15.

Insider Activity

In other news, Chairman David V. Auld sold 30,000 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $182.21, for a total transaction of $5,466,300.00. Following the completion of the sale, the chairman owned 815,672 shares of the company’s stock, valued at $148,623,595.12. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Aron M. Odom sold 1,376 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $183.00, for a total transaction of $251,808.00. Following the completion of the sale, the senior vice president directly owned 6,457 shares in the company, valued at $1,181,631. This represents a 17.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,376 shares of company stock worth $5,898,848 over the last quarter. 0.54% of the stock is currently owned by company insiders.

D.R. Horton 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.