Oregon Public Employees Retirement Fund Trims Holdings in D.R. Horton, Inc. (NYSE:DHI)

Oregon Public Employees Retirement Fund reduced its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,414 shares of the construction company’s stock after selling 162 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in D.R. Horton were worth $3,582,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new stake in shares of D.R. Horton in the first quarter valued at about $1,249,000. Vinva Investment Management Ltd grew its stake in shares of D.R. Horton by 59.3% in the 4th quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock valued at $12,537,000 after buying an additional 30,186 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of D.R. Horton by 85.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after buying an additional 16,252 shares during the last quarter. Alaska Permanent Fund Corp raised its position in shares of D.R. Horton by 312.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock valued at $1,934,000 after buying an additional 8,902 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in D.R. Horton by 24.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock valued at $4,978,000 after acquiring an additional 6,429 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Stock Performance

NYSE:DHI opened at $184.19 on Thursday. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $193.63. The company has a fifty day simple moving average of $168.51 and a two-hundred day simple moving average of $155.74. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The company has a market cap of $60.66 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. D.R. Horton’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.90 EPS. As a group, equities analysts anticipate that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton declared that its board has approved a stock repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.65%. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DHI. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and cut their target price for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. UBS Group raised their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Evercore ISI boosted their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus price target of $182.07.

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