Burgundy Asset Management Ltd. Cuts Stake in D.R. Horton, Inc. $DHI

Burgundy Asset Management Ltd. cut its stake in D.R. Horton, Inc. (NYSE:DHI) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 350,704 shares of the construction company’s stock after selling 11,664 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in D.R. Horton were worth $59,437,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Concord Wealth Partners acquired a new stake in shares of D.R. Horton in the third quarter worth approximately $25,000. Canton Hathaway LLC purchased a new position in D.R. Horton in the 3rd quarter valued at $26,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of D.R. Horton during the third quarter worth $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in D.R. Horton in the 2nd quarter valued at about $29,000. Finally, Westfuller Advisors LLC acquired a new position in D.R. Horton during the third quarter worth $34,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DHI has been the topic of several recent research reports. Citigroup lowered their price target on shares of D.R. Horton from $163.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Argus boosted their target price on shares of D.R. Horton from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Zacks Research cut shares of D.R. Horton from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Citizens Jmp reaffirmed a “market perform” rating on shares of D.R. Horton in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $195.00 price objective on shares of D.R. Horton in a research report on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus target price of $159.93.

Insider Buying and Selling

In other D.R. Horton news, SVP Aron M. Odom sold 260 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $167.55, for a total transaction of $43,563.00. Following the sale, the senior vice president owned 6,457 shares in the company, valued at $1,081,870.35. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by insiders.

D.R. Horton Trading Up 0.1%

NYSE DHI opened at $152.80 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 6.63. The firm has a market cap of $44.27 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.36 and a beta of 1.43. The firm has a 50 day simple moving average of $155.03 and a 200-day simple moving average of $157.54. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $184.54.

D.R. Horton (NYSE:DHI) last released its earnings results on Tuesday, January 20th. The construction company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.05. D.R. Horton had a net margin of 9.95% and a return on equity of 13.51%. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the business earned $2.61 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. Equities research analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were issued a $0.45 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. D.R. Horton’s dividend payout ratio (DPR) is 16.35%.

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.