ClariVest Asset Management LLC lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,030,928 shares of the construction company’s stock after selling 34,816 shares during the period. ClariVest Asset Management LLC’s holdings in D.R. Horton were worth $35,639,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DHI. Vanguard Group Inc. boosted its position in shares of D.R. Horton by 2.7% in the first quarter. Vanguard Group Inc. now owns 34,840,723 shares of the construction company’s stock valued at $1,160,545,000 after buying an additional 916,765 shares during the last quarter. BlackRock Inc. boosted 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 last quarter. Sanders Capital LLC boosted its position in shares of D.R. Horton by 2.6% in the first quarter. Sanders Capital LLC now owns 22,094,609 shares of the construction company’s stock valued at $753,622,000 after buying an additional 562,557 shares during the last quarter. FMR LLC boosted its position in shares of D.R. Horton by 1.8% in the first quarter. FMR LLC now owns 11,327,286 shares of the construction company’s stock valued at $377,312,000 after buying an additional 200,199 shares during the last quarter. Finally, Greenhaven Associates Inc. boosted its position in shares of D.R. Horton by 3.2% in the first quarter. Greenhaven Associates Inc. now owns 7,639,606 shares of the construction company’s stock valued at $254,475,000 after buying an additional 239,814 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of D.R. Horton, Inc. (DHI) opened at 36.09 on Friday. The firm’s 50-day moving average is $35.83 and its 200-day moving average is $33.44. D.R. Horton, Inc. has a 52 week low of $26.69 and a 52 week high of $37.44. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 13.52 and a beta of 1.25.

D.R. Horton (NYSE:DHI) last issued its earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts anticipate that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.

D.R. Horton announced that its board has authorized a share repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, August 7th. D.R. Horton’s payout ratio is 15.04%.

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Several research analysts have recently weighed in on DHI shares. Wells Fargo & Company reissued an “outperform” rating and set a $41.00 price target (up previously from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. Credit Suisse Group started coverage on shares of D.R. Horton in a research report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price target on the stock. Wedbush boosted their price target on shares of D.R. Horton from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Bank of America Corporation reissued a “buy” rating and set a $42.00 price target (up previously from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. Finally, Royal Bank Of Canada boosted their price target on shares of D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. D.R. Horton presently has an average rating of “Buy” and a consensus target price of $36.59.

In other D.R. Horton news, Director Barbara K. Allen sold 1,666 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $36.03, for a total transaction of $60,025.98. Following the transaction, the director now directly owns 7,316 shares in the company, valued at approximately $263,595.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is owned by corporate insiders.

About D.R. Horton

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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