Long Pond Capital LP Lowers Stake in D. R. Horton Inc (NYSE:DHI)

Long Pond Capital LP cut its holdings in D. R. Horton Inc (NYSE:DHI) by 6.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,493,667 shares of the construction company’s stock after selling 846,046 shares during the quarter. D. R. Horton accounts for approximately 14.9% of Long Pond Capital LP’s holdings, making the stock its largest position. Long Pond Capital LP’s holdings in D. R. Horton were worth $495,722,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DHI. BlackRock Inc. lifted its holdings in shares of D. R. Horton by 2.4% during the 1st quarter. BlackRock Inc. now owns 29,641,765 shares of the construction company’s stock valued at $1,226,577,000 after buying an additional 707,543 shares during the period. Sanders Capital LLC lifted its holdings in shares of D. R. Horton by 7.4% during the 2nd quarter. Sanders Capital LLC now owns 22,278,637 shares of the construction company’s stock valued at $1,048,294,000 after buying an additional 1,540,500 shares during the period. FMR LLC lifted its holdings in shares of D. R. Horton by 7.4% during the 1st quarter. FMR LLC now owns 17,558,688 shares of the construction company’s stock valued at $726,579,000 after buying an additional 1,211,995 shares during the period. Egerton Capital UK LLP bought a new position in shares of D. R. Horton during the 2nd quarter valued at $387,479,000. Finally, Geode Capital Management LLC lifted its holdings in shares of D. R. Horton by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 4,694,719 shares of the construction company’s stock valued at $162,446,000 after buying an additional 338,379 shares during the period. 86.55% of the stock is currently owned by institutional investors and hedge funds.

In other D. R. Horton news, Director Michael R. Buchanan sold 5,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.18, for a total value of $230,900.00. Following the completion of the sale, the director now owns 32,076 shares in the company, valued at approximately $1,481,269.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael W. Hewatt sold 7,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $49.45, for a total value of $346,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,500 shares of company stock worth $937,350. 6.87% of the stock is owned by insiders.

Shares of D. R. Horton stock opened at $49.77 on Friday. D. R. Horton Inc has a one year low of $32.39 and a one year high of $50.89. The stock’s fifty day moving average is $47.95 and its 200 day moving average is $44.57. The stock has a market cap of $18.41 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 6.91.

D. R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.20. D. R. Horton had a return on equity of 16.71% and a net margin of 9.26%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm earned $1.18 EPS. D. R. Horton’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that D. R. Horton Inc will post 4.18 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 12th were issued a $0.15 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. D. R. Horton’s dividend payout ratio is currently 14.67%.

Several equities analysts have recently weighed in on DHI shares. Royal Bank of Canada set a $46.00 price target on D. R. Horton and gave the company a “hold” rating in a report on Wednesday, July 31st. Barclays increased their price target on D. R. Horton from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BTIG Research increased their price target on D. R. Horton to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Seaport Global Securities started coverage on D. R. Horton in a report on Friday, August 23rd. They set a “buy” rating and a $59.00 price target on the stock. Finally, KeyCorp increased their price target on D. R. Horton from $45.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $49.04.

About D. R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 27 states and 81 markets in the United States under the names of D.R.

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

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