Wedge Capital Management L L P NC Sells 21,274 Shares of D.R. Horton, Inc. (NYSE:DHI)

Wedge Capital Management L L P NC trimmed its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,805 shares of the construction company's stock after selling 21,274 shares during the period. Wedge Capital Management L L P NC owned about 0.08% of D.R. Horton worth $49,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC bought a new position in shares of D.R. Horton during the 1st quarter worth about $1,249,000. BI Asset Management Fondsmaeglerselskab A S lifted 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 acquiring an additional 16,252 shares during the period. Alaska Permanent Fund Corp lifted its holdings 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 worth $1,934,000 after acquiring an additional 8,902 shares during the period. Bessemer Group Inc. lifted its holdings in shares of D.R. Horton by 107.6% during the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company's stock worth $2,444,000 after acquiring an additional 7,699 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company's stock worth $68,448,000 after acquiring an additional 199,668 shares during the period. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Performance

NYSE DHI traded up $4.29 on Monday, hitting $187.11. 1,530,162 shares of the stock were exchanged, compared to its average volume of 2,444,986. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The business's fifty day moving average is $185.63 and its 200 day moving average is $162.99. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $199.85. The company has a market capitalization of $61.62 billion, a PE ratio of 12.74, a P/E/G ratio of 0.78 and a beta of 1.72.

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

D.R. Horton announced that its board has authorized a stock buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. D.R. Horton's dividend payout ratio (DPR) is presently 8.17%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America lifted their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the company an "underperform" rating in a report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Citigroup downgraded shares of D.R. Horton from a "buy" rating to a "neutral" rating and cut their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company lifted their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the company an "overweight" rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $183.33.

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.