Lake Street Advisors Group LLC Cuts Stake in D.R. Horton, Inc. (NYSE:DHI)

Lake Street Advisors Group LLC lowered its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,603 shares of the construction company’s stock after selling 995 shares during the period. Lake Street Advisors Group LLC’s holdings in D.R. Horton were worth $1,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in D.R. Horton by 168.1% in the first quarter. Bank of America Corp DE now owns 10,978,102 shares of the construction company’s stock valued at $1,072,451,000 after purchasing an additional 6,883,719 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in D.R. Horton by 422.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,449,116 shares of the construction company’s stock valued at $97,757,000 after purchasing an additional 4,405,535 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in D.R. Horton by 101,707.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,368,566 shares of the construction company’s stock valued at $389,414,000 after purchasing an additional 4,364,275 shares during the last quarter. Norges Bank purchased a new position in D.R. Horton in the fourth quarter valued at about $247,001,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in D.R. Horton by 83,257.3% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,767,175 shares of the construction company’s stock valued at $215,047,000 after purchasing an additional 1,765,055 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

D.R. Horton Price Performance

Shares of DHI stock traded up $0.43 during trading hours on Friday, hitting $128.06. 1,939,084 shares of the company’s stock were exchanged, compared to its average volume of 2,895,659. The company has a quick ratio of 0.68, a current ratio of 3.05 and a debt-to-equity ratio of 0.28. The firm has a market cap of $43.32 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.74 and a beta of 1.54. The firm has a 50 day moving average of $110.60 and a two-hundred day moving average of $115.26. D.R. Horton, Inc. has a fifty-two week low of $80.20 and a fifty-two week high of $132.30.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, November 7th. The construction company reported $4.45 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.47. The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.01 billion. D.R. Horton had a return on equity of 21.85% and a net margin of 13.38%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.67 EPS. Sell-side analysts forecast that D.R. Horton, Inc. will post 14.25 EPS for the current year.

D.R. Horton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 21st will be paid a $0.30 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, November 20th. D.R. Horton’s dividend payout ratio is currently 7.23%.

Wall Street Analyst Weigh In

DHI has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price target on D.R. Horton from $121.00 to $116.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. JMP Securities lifted their target price on D.R. Horton from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. The Goldman Sachs Group raised D.R. Horton from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $132.00 to $131.00 in a report on Monday, October 16th. Wells Fargo & Company started coverage on D.R. Horton in a report on Tuesday, October 17th. They set an “overweight” rating and a $123.00 target price for the company. Finally, StockNews.com started coverage on D.R. Horton in a report on Thursday, October 5th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, D.R. Horton currently has an average rating of “Moderate Buy” and an average target price of $135.71.

About D.R. Horton

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 106 markets across 33 states under the names of D.R.