Pacer Advisors Inc. Reduces Position in D.R. Horton, Inc. $DHI

Pacer Advisors Inc. decreased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 35.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,048,752 shares of the construction company’s stock after selling 583,805 shares during the quarter. Pacer Advisors Inc.’s holdings in D.R. Horton were worth $177,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DHI. Norges Bank bought a new position in D.R. Horton in the 2nd quarter valued at $494,278,000. Berkshire Hathaway Inc bought a new stake in shares of D.R. Horton during the second quarter worth $191,491,000. Viking Global Investors LP boosted its stake in shares of D.R. Horton by 108.3% during the second quarter. Viking Global Investors LP now owns 2,827,032 shares of the construction company’s stock valued at $364,461,000 after purchasing an additional 1,469,978 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of D.R. Horton by 42.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,827,694 shares of the construction company’s stock worth $378,628,000 after purchasing an additional 846,085 shares during the last quarter. Finally, Amundi increased its stake in D.R. Horton by 60.2% in the 1st quarter. Amundi now owns 2,176,211 shares of the construction company’s stock worth $266,811,000 after buying an additional 817,998 shares during the period. 90.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DHI shares. Wells Fargo & Company lowered their price objective on shares of D.R. Horton from $190.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Evercore ISI set a $169.00 price target on shares of D.R. Horton and gave the company an “in-line” rating in a research note on Tuesday, October 7th. Citigroup reissued a “market outperform” rating on shares of D.R. Horton in a research note on Thursday, October 30th. Royal Bank Of Canada raised their price objective on D.R. Horton from $117.00 to $118.00 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Finally, Bank of America lowered their target price on D.R. Horton from $175.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $161.08.

D.R. Horton Price Performance

NYSE DHI opened at $146.75 on Friday. The company has a market cap of $42.72 billion, a PE ratio of 12.66, a P/E/G ratio of 1.75 and a beta of 1.38. The firm’s 50 day moving average price is $150.64 and its 200-day moving average price is $151.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.18 and a current ratio of 6.48. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $184.54.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, October 28th. The construction company reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.25). The company had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.44 billion. D.R. Horton had a return on equity of 14.39% and a net margin of 10.47%.The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.92 EPS. Sell-side analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 13th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. D.R. Horton’s dividend payout ratio is 15.53%.

About D.R. Horton

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.