Investment Management Corp of Ontario Sells 6,280 Shares of D.R. Horton, Inc. (NYSE:DHI)

Investment Management Corp of Ontario trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 38.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,859 shares of the construction company's stock after selling 6,280 shares during the period. Investment Management Corp of Ontario's holdings in D.R. Horton were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DHI. Coastline Trust Co purchased a new stake in D.R. Horton during the third quarter valued at $26,000. Rakuten Securities Inc. increased its holdings in shares of D.R. Horton by 216.7% in the 3rd quarter. Rakuten Securities Inc. now owns 171 shares of the construction company's stock worth $33,000 after buying an additional 117 shares during the last quarter. Bfsg LLC raised its position in shares of D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company's stock valued at $25,000 after buying an additional 74 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company's stock valued at $40,000 after acquiring an additional 196 shares during the last quarter. Finally, Grove Bank & Trust grew its position in D.R. Horton by 76.2% in the third quarter. Grove Bank & Trust now owns 215 shares of the construction company's stock worth $41,000 after acquiring an additional 93 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Barbara K. Allen sold 5,650 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.74% of the company's stock.

D.R. Horton Trading Down 1.0 %

Shares of NYSE DHI traded down $1.68 during trading hours on Thursday, reaching $159.67. The stock had a trading volume of 2,145,835 shares, compared to its average volume of 2,498,430. D.R. Horton, Inc. has a 52-week low of $132.00 and a 52-week high of $199.85. The firm has a market cap of $51.28 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.61 and a beta of 1.71. The business's fifty day moving average price is $175.18 and its two-hundred day moving average price is $168.39. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). The firm had revenue of $10 billion during the quarter, compared to analysts' expectations of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.45 earnings per share. Analysts expect that D.R. Horton, Inc. will post 14.26 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.00%. This is a positive change from D.R. Horton's previous quarterly dividend of $0.30. D.R. Horton's payout ratio is currently 11.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DHI shares. JPMorgan Chase & Co. upped their price objective on D.R. Horton from $180.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Royal Bank of Canada decreased their price target on D.R. Horton from $154.00 to $145.00 and set an "underperform" rating on the stock in a report on Wednesday, October 30th. BTIG Research dropped their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Bank of America increased their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, Barclays lowered their target price on shares of D.R. Horton from $200.00 to $192.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $185.87.

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.