Victory Capital Management Inc. Sells 50,967 Shares of D.R. Horton, Inc. (NYSE:DHI)

Victory Capital Management Inc. cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 349,775 shares of the construction company's stock after selling 50,967 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of D.R. Horton worth $66,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DHI. Bfsg LLC increased its stake in shares of D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company's stock worth $25,000 after purchasing an additional 74 shares during the period. Signature Resources Capital Management LLC acquired a new position in shares of D.R. Horton during the 2nd quarter worth approximately $31,000. Rakuten Securities Inc. raised its position in shares of D.R. Horton by 216.7% in the third quarter. Rakuten Securities Inc. now owns 171 shares of the construction company's stock valued at $33,000 after buying an additional 117 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company's stock valued at $40,000 after buying an additional 196 shares during the period. Finally, Grove Bank & Trust increased its stake in D.R. Horton by 76.2% during the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company's stock worth $41,000 after acquiring an additional 93 shares during the period. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Price Performance

NYSE:DHI traded down $0.91 during trading hours on Friday, hitting $162.83. 889,086 shares of the company's stock traded hands, compared to its average volume of 2,510,161. The business's fifty day simple moving average is $182.89 and its two-hundred day simple moving average is $166.66. D.R. Horton, Inc. has a 52 week low of $125.28 and a 52 week high of $199.85. The firm has a market cap of $53.06 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.56 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data 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). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter last year, the company posted $4.45 earnings per share. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts anticipate that D.R. Horton, Inc. will post 14.92 earnings per share for the current fiscal year.

D.R. Horton declared that its Board of Directors has approved a share repurchase plan on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This is a positive change from D.R. Horton's previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Tuesday, November 12th. D.R. Horton's dividend payout ratio is currently 11.14%.

Analyst Ratings Changes

A number of brokerages recently commented on DHI. Evercore ISI decreased their price target on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company cut their target price on shares of D.R. Horton from $220.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. UBS Group decreased their price target on shares of D.R. Horton from $217.00 to $214.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Barclays reduced their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Finally, Raymond James lowered D.R. Horton from an "outperform" rating to a "market perform" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $185.87.

D.R. Horton Company 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.