D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,051 shares of the construction company’s stock after selling 114 shares during the quarter. Cigna Investments Inc. New’s holdings in D.R. Horton were worth $582,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. TCI Wealth Advisors Inc. raised its stake in shares of D.R. Horton by 4.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,487 shares of the construction company’s stock valued at $284,000 after acquiring an additional 58 shares during the period. Premier Path Wealth Partners LLC raised its holdings in shares of D.R. Horton by 1.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock valued at $872,000 after buying an additional 59 shares during the period. Coldstream Capital Management Inc. boosted its holdings in D.R. Horton by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock valued at $739,000 after acquiring an additional 60 shares during the period. Whittier Trust Co. grew its position in D.R. Horton by 1.7% in the 2nd quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after acquiring an additional 63 shares in the last quarter. Finally, Values First Advisors Inc. increased its stake in D.R. Horton by 0.7% during the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after purchasing an additional 66 shares during the period. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Stock Performance

Shares of DHI stock opened at $167.61 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.32. The stock has a market cap of $54.61 billion, a PE ratio of 11.67, a P/E/G ratio of 0.57 and a beta of 1.72. D.R. Horton, Inc. has a 1 year low of $111.59 and a 1 year high of $199.85. The stock has a fifty day moving average price of $186.47 and a 200 day moving average price of $165.31.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the company posted $4.45 earnings per share. D.R. Horton’s revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that D.R. Horton, Inc. will post 15.87 earnings per share for the current fiscal year.

D.R. Horton declared that its board has authorized a share buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is 8.36%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DHI shares. BTIG Research dropped their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group decreased their target price on D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price objective on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.33.

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.