Connor Clark & Lunn Investment Management Ltd. Lowers Stake in D.R. Horton, Inc. (NYSE:DHI)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 81.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,397 shares of the construction company’s stock after selling 168,784 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in D.R. Horton were worth $7,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DHI. Edgestream Partners L.P. increased its position in D.R. Horton by 18.5% during the 1st quarter. Edgestream Partners L.P. now owns 1,715 shares of the construction company’s stock valued at $282,000 after buying an additional 268 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of D.R. Horton by 66.9% during the first quarter. CreativeOne Wealth LLC now owns 3,723 shares of the construction company’s stock valued at $613,000 after acquiring an additional 1,492 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of D.R. Horton in the 1st quarter worth about $274,000. Advisors Asset Management Inc. boosted its stake in D.R. Horton by 1.6% in the 1st quarter. Advisors Asset Management Inc. now owns 22,081 shares of the construction company’s stock worth $3,633,000 after purchasing an additional 352 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after purchasing an additional 199,668 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on DHI shares. Royal Bank of Canada decreased their target price on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Raymond James cut D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. UBS Group lowered their price target on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Citigroup reduced their price objective on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, D.R. Horton has a consensus rating of “Hold” and a consensus target price of $185.87.

D.R. Horton Stock Up 1.0 %

Shares of DHI stock opened at $163.51 on Friday. The company has a 50 day simple moving average of $179.77 and a two-hundred day simple moving average of $167.34. The stock has a market cap of $53.28 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.59 and a beta of 1.74. D.R. Horton, Inc. has a 12 month low of $125.28 and a 12 month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the business posted $4.45 earnings per share. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, research analysts expect that D.R. Horton, Inc. will post 14.4 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.98%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, November 12th. D.R. Horton’s dividend payout ratio is currently 11.14%.

Insiders Place Their Bets

In related news, Director Barbara K. Allen sold 5,650 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $163.10, for a total value of $921,515.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.74% of the stock is owned by company insiders.

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.