Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in D. R. Horton Inc (NYSE:DHI) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,545 shares of the construction company’s stock after selling 1,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in D. R. Horton were worth $4,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. BerganKDV Wealth Management LLC purchased a new stake in shares of D. R. Horton during the third quarter worth approximately $753,000. Hillsdale Investment Management Inc. purchased a new position in D. R. Horton in the third quarter worth $475,000. Bank of New York Mellon Corp raised its position in D. R. Horton by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 3,047,603 shares of the construction company’s stock worth $128,548,000 after acquiring an additional 151,759 shares in the last quarter. AXA raised its position in D. R. Horton by 30.9% in the third quarter. AXA now owns 90,712 shares of the construction company’s stock worth $3,826,000 after acquiring an additional 21,400 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in D. R. Horton by 3.0% in the third quarter. Alliancebernstein L.P. now owns 3,856,010 shares of the construction company’s stock worth $162,647,000 after acquiring an additional 110,586 shares in the last quarter. 82.70% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on DHI. Mizuho set a $46.00 price objective on D. R. Horton and gave the stock a “hold” rating in a research report on Monday, August 6th. MKM Partners cut their price objective on D. R. Horton to $52.00 and set a “neutral” rating for the company in a research report on Friday, August 3rd. Wedbush reiterated an “outperform” rating and issued a $47.00 price objective on shares of D. R. Horton in a research report on Friday, September 14th. Barclays set a $51.00 price objective on D. R. Horton and gave the stock a “buy” rating in a research report on Friday, September 14th. Finally, ValuEngine cut D. R. Horton from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.86.
D. R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, November 8th. The construction company reported $1.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.22. D. R. Horton had a return on equity of 18.27% and a net margin of 9.09%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that D. R. Horton Inc will post 4.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from D. R. Horton’s previous quarterly dividend of $0.13. D. R. Horton’s dividend payout ratio (DPR) is currently 14.67%.
About D. R. Horton
D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West America. It engages in the acquisition and development of land; and construction and sale of homes in 26 states and 79 markets in the United States under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, Freedom Homes, and Pacific Ridge Homes.
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