Canada Pension Plan Investment Board Sells 118,012 Shares of D.R. Horton, Inc. (NYSE:DHI)

Canada Pension Plan Investment Board lessened its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,628 shares of the construction company's stock after selling 118,012 shares during the quarter. Canada Pension Plan Investment Board's holdings in D.R. Horton were worth $15,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of D.R. Horton by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 7,235,518 shares of the construction company's stock worth $1,009,077,000 after buying an additional 127,606 shares during the last quarter. Norges Bank bought a new stake in shares of D.R. Horton during the 4th quarter valued at $593,363,000. Franklin Resources Inc. increased its stake in shares of D.R. Horton by 71.5% in the 4th quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock worth $499,774,000 after purchasing an additional 1,490,648 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in D.R. Horton by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,858,514 shares of the construction company's stock worth $259,857,000 after purchasing an additional 47,678 shares during the period. Finally, Principal Financial Group Inc. lifted its position in D.R. Horton by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company's stock valued at $339,174,000 after purchasing an additional 120,892 shares in the last quarter. Institutional investors own 90.63% of the company's stock.

Wall Street Analysts Forecast Growth

DHI has been the subject of a number of analyst reports. BTIG Research reduced their price target on D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. JPMorgan Chase & Co. reduced their target price on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a report on Monday. Keefe, Bruyette & Woods lowered their price target on shares of D.R. Horton from $165.00 to $135.00 and set a "market perform" rating on the stock in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Wedbush restated a "neutral" rating and set a $180.00 target price on shares of D.R. Horton in a research note on Friday, January 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $151.15.

D.R. Horton Price Performance

Shares of DHI traded up $1.27 during mid-day trading on Thursday, hitting $126.06. 3,309,297 shares of the stock were exchanged, compared to its average volume of 2,940,684. The firm has a 50-day moving average of $126.07 and a two-hundred day moving average of $145.93. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $199.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 6.92. The company has a market cap of $39.72 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the business earned $3.52 EPS. On average, equities analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $1.60 annualized dividend and a yield of 1.27%. D.R. Horton's payout ratio is currently 12.11%.

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.