Provident Investment Management Inc. Reduces Holdings in D.R. Horton, Inc. (NYSE:DHI)

Provident Investment Management Inc. reduced its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 49.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,930 shares of the construction company's stock after selling 159,519 shares during the quarter. D.R. Horton accounts for 2.1% of Provident Investment Management Inc.'s portfolio, making the stock its 18th biggest holding. Provident Investment Management Inc. owned about 0.05% of D.R. Horton worth $22,501,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of D.R. Horton by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company's stock worth $339,174,000 after purchasing an additional 120,892 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of D.R. Horton by 10.8% in the third quarter. Public Sector Pension Investment Board now owns 12,352 shares of the construction company's stock worth $2,356,000 after purchasing an additional 1,200 shares in the last quarter. Atom Investors LP purchased a new position in shares of D.R. Horton during the 3rd quarter valued at $274,000. Ascent Group LLC bought a new stake in D.R. Horton during the third quarter valued at about $215,000. Finally, HighTower Advisors LLC lifted its position in shares of D.R. Horton by 1.1% in the third quarter. HighTower Advisors LLC now owns 210,132 shares of the construction company's stock valued at $40,127,000 after acquiring an additional 2,233 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have issued reports on DHI shares. UBS Group reduced their price target on shares of D.R. Horton from $214.00 to $203.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Citigroup decreased their target price on D.R. Horton from $185.00 to $152.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Bank of America cut shares of D.R. Horton from a "buy" rating to a "neutral" rating and cut their price target for the stock from $160.00 to $150.00 in a report on Monday, January 27th. Barclays lowered their price objective on shares of D.R. Horton from $145.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on D.R. Horton from $200.00 to $171.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $169.14.

D.R. Horton Trading Down 0.3 %

Shares of DHI traded down $0.32 during mid-day trading on Wednesday, reaching $114.78. The stock had a trading volume of 1,737,309 shares, compared to its average volume of 2,880,180. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.92 and a quick ratio of 1.09. The business's fifty day moving average is $129.38 and its 200 day moving average is $151.10. D.R. Horton, Inc. has a 52-week low of $110.73 and a 52-week high of $199.85. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 8.08, a P/E/G 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 Tuesday, January 21st. The construction company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.24. D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The firm had revenue of $7.61 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The firm's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, February 7th. D.R. Horton's payout ratio is currently 11.31%.

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.