Public Employees Retirement Association of Colorado trimmed its holdings in shares of D. R. Horton (NYSE:DHI) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,833 shares of the construction company’s stock after selling 1,724 shares during the period. Public Employees Retirement Association of Colorado’s holdings in D. R. Horton were worth $2,886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in DHI. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of D. R. Horton during the fourth quarter worth $110,000. Calton & Associates Inc. purchased a new position in D. R. Horton during the fourth quarter worth about $193,000. Tiemann Investment Advisors LLC purchased a new position in D. R. Horton during the fourth quarter worth about $203,000. Court Place Advisors LLC purchased a new position in D. R. Horton during the fourth quarter worth about $204,000. Finally, Koch Industries Inc. acquired a new stake in shares of D. R. Horton during the fourth quarter worth about $204,000. Institutional investors and hedge funds own 84.01% of the company’s stock.
Shares of D. R. Horton traded up $0.38, reaching $41.77, during trading on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 65,836 shares, compared to its average volume of 4,785,524. The company has a quick ratio of 1.07, a current ratio of 7.36 and a debt-to-equity ratio of 0.39. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.05 and a beta of 1.11. D. R. Horton has a twelve month low of $39.98 and a twelve month high of $41.01.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be paid a $0.125 dividend. The ex-dividend date is Thursday, May 10th. This represents a $0.50 annualized dividend and a dividend yield of 1.20%. D. R. Horton’s payout ratio is 18.25%.
In related news, Chairman Donald R. Horton sold 10,244 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $42.23, for a total transaction of $432,604.12. Following the completion of the transaction, the chairman now owns 23,418,979 shares of the company’s stock, valued at $988,983,483.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara K. Allen sold 2,423 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $45.73, for a total value of $110,803.79. Following the sale, the director now directly owns 5,650 shares of the company’s stock, valued at $258,374.50. The disclosure for this sale can be found here. In the last three months, insiders sold 27,126 shares of company stock valued at $1,154,224. Company insiders own 7.20% of the company’s stock.
DHI has been the topic of several research reports. Barclays raised shares of D. R. Horton from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Monday, March 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $52.00 price target on shares of D. R. Horton in a research note on Wednesday, March 21st. ValuEngine upgraded shares of D. R. Horton from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $60.00 price objective (up from $52.00) on shares of D. R. Horton in a research report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $58.00 price objective on shares of D. R. Horton in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.56.
About D. R. Horton
D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West America. It engages in the acquisition and development of land; and construction and sale of homes in 26 states and 79 markets in the United States under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, Freedom Homes, and Pacific Ridge Homes.
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