D.R. Horton, Inc. (NYSE:DHI) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 28.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,515 shares of the construction company’s stock after selling 608 shares during the quarter. CENTRAL TRUST Co’s holdings in D.R. Horton were worth $289,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Chapin Davis Inc. acquired a new stake in D.R. Horton in the 1st quarter valued at about $438,000. Diversified Trust Co grew its position in D.R. Horton by 19.9% during the 1st quarter. Diversified Trust Co now owns 8,823 shares of the construction company’s stock worth $1,452,000 after purchasing an additional 1,467 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of D.R. Horton by 7.4% in the first quarter. Miracle Mile Advisors LLC now owns 7,122 shares of the construction company’s stock worth $1,172,000 after buying an additional 489 shares during the period. Claro Advisors LLC grew its holdings in shares of D.R. Horton by 25.8% during the first quarter. Claro Advisors LLC now owns 2,873 shares of the construction company’s stock valued at $473,000 after buying an additional 589 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its position in D.R. Horton by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 8,563 shares of the construction company’s stock valued at $1,409,000 after buying an additional 166 shares during the period. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of D.R. Horton stock opened at $179.24 on Friday. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $187.89 and a 200-day simple moving average of $164.64. The stock has a market capitalization of $59.03 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.78 and a beta of 1.72. D.R. Horton, Inc. has a 1-year low of $100.81 and a 1-year high of $199.85.

D.R. Horton announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DHI. Royal Bank of Canada raised their price objective on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, July 19th. UBS Group upped their price objective on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. JMP Securities lifted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Barclays upped their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.67.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.