D.R. Horton, Inc. $DHI Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC reduced its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,295 shares of the construction company’s stock after selling 260 shares during the period. Studio Investment Management LLC’s holdings in D.R. Horton were worth $3,003,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DHI. Olde Wealth Management LLC acquired a new position in D.R. Horton during the 1st quarter worth $26,000. Bayforest Capital Ltd boosted its holdings in shares of D.R. Horton by 340.4% in the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company’s stock valued at $32,000 after buying an additional 194 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of D.R. Horton in the 1st quarter valued at about $34,000. Ransom Advisory Ltd acquired a new position in shares of D.R. Horton in the 1st quarter valued at about $51,000. Finally, Adirondack Trust Co. boosted its holdings in shares of D.R. Horton by 53.2% in the 2nd quarter. Adirondack Trust Co. now owns 406 shares of the construction company’s stock valued at $52,000 after buying an additional 141 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Evercore ISI set a $169.00 price target on shares of D.R. Horton and gave the company an “in-line” rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of D.R. Horton from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Keefe, Bruyette & Woods lifted their price target on shares of D.R. Horton from $135.00 to $161.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price target on shares of D.R. Horton from $105.00 to $117.00 and gave the company an “underperform” rating in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of D.R. Horton from $176.00 to $187.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, D.R. Horton currently has a consensus rating of “Hold” and an average price target of $156.54.

D.R. Horton Trading Up 3.2%

Shares of NYSE:DHI opened at $158.68 on Wednesday. The company has a market cap of $47.31 billion, a PE ratio of 12.73, a P/E/G ratio of 3.19 and a beta of 1.40. The company’s 50-day moving average price is $167.06 and its 200 day moving average price is $142.30. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $184.54. The company has a quick ratio of 1.19, a current ratio of 7.06 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.46. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. D.R. Horton’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $4.10 EPS. Sell-side analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

Insiders Place Their Bets

In other D.R. Horton news, Director Michael R. Buchanan sold 1,000 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $180.74, for a total transaction of $180,740.00. Following the sale, the director directly owned 1,193 shares in the company, valued at approximately $215,622.82. The trade was a 45.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David V. Auld sold 30,000 shares of D.R. Horton stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $182.21, for a total transaction of $5,466,300.00. Following the completion of the transaction, the chairman directly owned 815,672 shares in the company, valued at $148,623,595.12. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,376 shares of company stock worth $5,898,848. 0.54% of the stock is owned by corporate insiders.

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.