California Public Employees Retirement System Decreases Stock Position in D.R. Horton, Inc. (NYSE:DHI)

California Public Employees Retirement System decreased its position in D.R. Horton, Inc. (NYSE:DHI) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 600,908 shares of the construction company’s stock after selling 23,861 shares during the quarter. California Public Employees Retirement System’s holdings in D.R. Horton were worth $91,326,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Evergreen Capital Management LLC boosted its holdings in shares of D.R. Horton by 53.7% in the third quarter. Evergreen Capital Management LLC now owns 9,992 shares of the construction company’s stock valued at $1,074,000 after acquiring an additional 3,489 shares during the period. Voss Capital LLC purchased a new position in D.R. Horton during the 4th quarter worth $7,599,000. Los Angeles Capital Management LLC increased its stake in D.R. Horton by 390.6% in the third quarter. Los Angeles Capital Management LLC now owns 743,311 shares of the construction company’s stock valued at $79,884,000 after purchasing an additional 591,787 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of D.R. Horton in the third quarter valued at about $218,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of D.R. Horton by 20.5% during the fourth quarter. Handelsbanken Fonder AB now owns 97,275 shares of the construction company’s stock worth $14,784,000 after buying an additional 16,573 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Insiders Place Their Bets

In other news, Director Barbara K. Allen sold 363 shares of D.R. Horton stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $148.46, for a total value of $53,890.98. Following the completion of the sale, the director now owns 5,650 shares of the company’s stock, valued at $838,799. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Barbara K. Allen sold 363 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total transaction of $53,890.98. Following the transaction, the director now directly owns 5,650 shares in the company, valued at approximately $838,799. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barbara K. Allen sold 1,748 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total transaction of $250,418.48. Following the completion of the sale, the director now directly owns 5,650 shares in the company, valued at $809,419. The disclosure for this sale can be found here. In the last three months, insiders sold 27,560 shares of company stock valued at $4,279,636. Company insiders own 1.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DHI. Bank of America dropped their price target on D.R. Horton from $182.00 to $168.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Citigroup increased their price target on D.R. Horton from $166.00 to $191.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Raymond James boosted their price objective on shares of D.R. Horton from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Wedbush restated an “underperform” rating and issued a $130.00 price objective on shares of D.R. Horton in a research report on Thursday, April 18th. Finally, Barclays reduced their price target on D.R. Horton from $186.00 to $176.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.06.

D.R. Horton Stock Performance

Shares of DHI opened at $146.12 on Thursday. D.R. Horton, Inc. has a 12-month low of $100.08 and a 12-month high of $165.75. The stock has a market cap of $48.49 billion, a P/E ratio of 9.95, a PEG ratio of 0.73 and a beta of 1.64. The company has a current ratio of 7.35, a quick ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $151.94 and a two-hundred day moving average of $139.79.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, April 18th. The construction company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.44. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.15 billion. D.R. Horton had a return on equity of 21.32% and a net margin of 13.39%. D.R. Horton’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.73 earnings per share. As a group, research analysts predict that D.R. Horton, Inc. will post 14.27 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 2nd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, May 1st. D.R. Horton’s dividend payout ratio is presently 8.17%.

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.