California State Teachers Retirement System Reduces Stake in D.R. Horton, Inc. (NYSE:DHI)

California State Teachers Retirement System reduced its position in D.R. Horton, Inc. (NYSE:DHI – Get Rating) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,861 shares of the construction company’s stock after selling 9,794 shares during the period. California State Teachers Retirement System’s holdings in D.R. Horton were worth $37,100,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DHI. Franklin Resources Inc. increased its position in D.R. Horton by 34.4% during the second quarter. Franklin Resources Inc. now owns 6,322,186 shares of the construction company’s stock worth $418,465,000 after buying an additional 1,618,629 shares in the last quarter. Nuveen Asset Management LLC increased its position in D.R. Horton by 82.9% during the third quarter. Nuveen Asset Management LLC now owns 2,057,494 shares of the construction company’s stock worth $138,572,000 after buying an additional 932,649 shares in the last quarter. Echo Street Capital Management LLC increased its position in D.R. Horton by 40.6% during the second quarter. Echo Street Capital Management LLC now owns 2,522,883 shares of the construction company’s stock worth $166,990,000 after buying an additional 728,450 shares in the last quarter. Invesco Ltd. increased its position in D.R. Horton by 17.0% during the first quarter. Invesco Ltd. now owns 4,771,705 shares of the construction company’s stock worth $355,538,000 after buying an additional 694,155 shares in the last quarter. Finally, Marshall Wace LLP increased its position in D.R. Horton by 150.9% during the third quarter. Marshall Wace LLP now owns 700,881 shares of the construction company’s stock worth $47,203,000 after buying an additional 421,530 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.

Insider Activity at D.R. Horton

In other D.R. Horton news, COO Paul J. Romanowski sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $89.68, for a total transaction of $2,690,400.00. Following the transaction, the chief operating officer now owns 76,185 shares in the company, valued at $6,832,270.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other D.R. Horton news, VP Aron M. Odom sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $96.16, for a total transaction of $96,160.00. Following the transaction, the vice president now owns 3,083 shares in the company, valued at $296,461.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Paul J. Romanowski sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $89.68, for a total value of $2,690,400.00. Following the transaction, the chief operating officer now owns 76,185 shares in the company, valued at approximately $6,832,270.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,667 shares of company stock worth $3,042,476. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JMP Securities raised their price target on D.R. Horton from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 25th. Oppenheimer initiated coverage on D.R. Horton in a report on Wednesday, January 18th. They set a “market perform” rating on the stock. Citigroup raised their price objective on D.R. Horton from $91.00 to $111.00 in a report on Tuesday, January 10th. KeyCorp raised their price objective on D.R. Horton from $97.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, BTIG Research raised their price objective on D.R. Horton from $101.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, January 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.27.

D.R. Horton Price Performance

Shares of D.R. Horton stock opened at $97.44 on Friday. D.R. Horton, Inc. has a twelve month low of $59.25 and a twelve month high of $104.14. The stock has a market capitalization of $33.46 billion, a P/E ratio of 6.04, a PEG ratio of 0.69 and a beta of 1.51. The company has a current ratio of 6.67, a quick ratio of 1.09 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $95.42 and its 200 day moving average price is $84.37.

D.R. Horton (NYSE:DHI – Get Rating) last issued its earnings results on Tuesday, January 24th. The construction company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.49. D.R. Horton had a return on equity of 29.91% and a net margin of 16.85%. The firm had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the firm earned $3.17 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that D.R. Horton, Inc. will post 9.1 earnings per share for the current year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, February 6th. D.R. Horton’s payout ratio is currently 6.20%.

About D.R. Horton

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D.R. Horton, Inc operates as a home building company, which engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding, Forestar, Financial Services, Rental, and Others. The Homebuilding segment includes the acquisition and development of land and the construction and sale of residential homes.