Janney Montgomery Scott LLC Lowers Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Janney Montgomery Scott LLC lowered its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,358 shares of the construction company's stock after selling 3,151 shares during the period. Janney Montgomery Scott LLC's holdings in D.R. Horton were worth $4,838,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DHI. Forsta AP Fonden lifted its stake in D.R. Horton by 8.8% during the first quarter. Forsta AP Fonden now owns 59,200 shares of the construction company's stock worth $9,741,000 after purchasing an additional 4,800 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in D.R. Horton by 15.2% during the first quarter. Atomi Financial Group Inc. now owns 1,918 shares of the construction company's stock worth $316,000 after purchasing an additional 253 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of D.R. Horton in the 1st quarter valued at about $1,249,000. NorthRock Partners LLC lifted its stake in shares of D.R. Horton by 9.8% in the 1st quarter. NorthRock Partners LLC now owns 2,514 shares of the construction company's stock valued at $414,000 after acquiring an additional 225 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of D.R. Horton by 13.3% in the 1st quarter. Meeder Asset Management Inc. now owns 76,914 shares of the construction company's stock valued at $12,656,000 after acquiring an additional 9,037 shares during the last quarter. Institutional investors own 90.63% of the company's stock.

D.R. Horton Stock Up 0.4 %

DHI stock traded up $0.68 during midday trading on Friday, hitting $168.79. The company's stock had a trading volume of 2,652,161 shares, compared to its average volume of 3,101,310. The company has a market cap of $55.00 billion, a PE ratio of 11.75, a P/E/G ratio of 0.56 and a beta of 1.74. D.R. Horton, Inc. has a 12 month low of $120.10 and a 12 month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The firm's 50-day moving average is $184.62 and its 200-day moving average is $166.30.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts' consensus estimates of $4.17 by ($0.25). The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm's revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.45 EPS. On average, equities research analysts forecast that D.R. Horton, Inc. will post 15.54 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This is a positive change from D.R. Horton's previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. D.R. Horton's dividend payout ratio is presently 8.36%.

D.R. Horton declared that its board has authorized a share buyback program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DHI shares. Bank of America boosted their target price on D.R. Horton from $196.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Raymond James lowered D.R. Horton from an "outperform" rating to a "market perform" rating in a research note on Thursday. Evercore ISI reduced their price target on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada reduced 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. Finally, Wells Fargo & Company reduced their price target on D.R. Horton from $220.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, D.R. Horton presently has a consensus rating of "Hold" and a consensus target price 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.