Rothschild Asset Management Inc. reduced its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 52.6% during the second quarter, Holdings Channel reports. The firm owned 308,223 shares of the construction company’s stock after selling 342,463 shares during the period. Rothschild Asset Management Inc.’s holdings in D.R. Horton were worth $10,655,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of D.R. Horton by 4,643.2% in the first quarter. BlackRock Inc. now owns 31,771,328 shares of the construction company’s stock valued at $1,058,305,000 after buying an additional 31,101,501 shares during the period. Capital Growth Management LP increased its position in shares of D.R. Horton by 107.5% in the first quarter. Capital Growth Management LP now owns 3,320,000 shares of the construction company’s stock valued at $110,589,000 after buying an additional 1,720,000 shares during the period. Oakmont Corp increased its position in shares of D.R. Horton by 1,271.8% in the first quarter. Oakmont Corp now owns 1,133,269 shares of the construction company’s stock valued at $37,749,000 after buying an additional 1,050,660 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of D.R. Horton by 1,823.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,090,284 shares of the construction company’s stock valued at $36,357,000 after buying an additional 1,033,600 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of D.R. Horton by 1,749.9% in the first quarter. Nuveen Asset Management LLC now owns 1,022,867 shares of the construction company’s stock valued at $34,072,000 after buying an additional 967,573 shares during the period. 82.41% of the stock is currently owned by institutional investors.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. D.R. Horton’s dividend payout ratio is presently 15.04%.

D.R. Horton announced that its board has initiated a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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DHI has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of D.R. Horton in a research report on Thursday, April 13th. Credit Suisse Group initiated coverage on D.R. Horton in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $38.00 price objective on the stock. Raymond James Financial, Inc. raised D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Friday, June 30th. BidaskClub raised D.R. Horton from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price objective (up previously from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $36.59.

In related news, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total value of $60,025.98. Following the sale, the director now owns 7,316 shares in the company, valued at approximately $263,595.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is currently owned by insiders.

D.R. Horton Company Profile

D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.

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Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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